Toronto, Ontario--(Newsfile Corp. - March 31, 2022) - Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) ("Lendified" or the "Company") announces it has filed its audited annual financial statements for the year ended December 31, 2021 (the "Financial Statements") and related management and discussion (the "MD&A"). The Financial Statements and MD&A can be found under the Company's profile on www.SEDAR.com.
Business Highlights:
- The Company saw significant restructuring and investment throughout the year with debt restructuring completed in July and private placements in July and October.
- In July, the Company entered into a two-year credit agreement with Windsor Private Capital Limited Partnership and Evergreen Gap Debt GP Inc for a new credit facility of up to $10,000,000. The new credit facility positions the Company to continue to originate new loans and respond to demand from businesses for funding.
- In August, the Company announced the appointment of Eoghan Bergin as CEO and Director of the Company succeeding John Gillberry. Further to this, in December at its Annual General Meeting (AGM), the Company's shareholders elected the addition of a new director, Chris Tambakis, to join the board alongside the other directors, Eoghan Bergin, Guy Charette, Peter Ostapchuk and Perry Dellelce.
- For the year ended 2021, net income improved by 105% to net income of $611,725 in comparison to -$12,091,884 during the prior year. This marks a significant milestone for the Company with its yearly earnings being positive for the first time in its history.
The Company is also pleased to announce the appointment of Pratik Bhandari, the Company's Chief Financial Officer, as Corporate Secretary.
ABOUT LENDIFIED HOLDINGS INC.
Lendified, a company located in Ontario, Canada, is a Canadian company operating a lending platform which provides working capital loans to small and medium-sized businesses across Canada.