Hampton Financial Corporation Reports Second Quarter Results

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NOT INTENDED FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

TORONTO, April 29, 2024 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Pursue“, TSXV:HFC) today announced its financial results for the 2nd^nd The quarter ended February 29th^Th2024.

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Second Quarter Financial Highlights:

The second quarter ended on February 29th^Th2024.

• Q2 revenue of $1,864,000; a decline of 25% year-on-year
• Q2 net losses of $(751,000) or $(0.02) per share; an improvement of 17% year-on-year
• Q2 EBITDA of $(441,000) compared to $(437,000) in the same quarter last year

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Summary of company developments:

The company 2^ND The quarterly results reflect the challenging environment across the financial services industry, characterized by rising interest rates and global uncertainty, which continues to delay many financings and broader financial decisions by issuers. While 2024 shows some signs of improvement, the coming year remains unclear for Hampton’s core business.

“Second quarter results continue to demonstrate the industry-wide slowdown that has extended into the first half of calendar 2024. As interest rates stabilize, capital market activity is starting to improve, so we hope for a stronger second half of the year. We remain optimistic for the remainder of the financial year. On a positive note, we were pleased to announce that after the end of our 2nd…^nd In the third quarter we completed the acquisition of Oxygen Working Capital Corp. completed. The integration of this new commercial credit unit into the broader Hampton group is complete and we look forward to making a positive contribution to future financial results. We also see this as an excellent opportunity to expand our capital market offering to include additional financing options for early and mid-stage companies.said Peter Deeb, Executive Chairman and CEO of Hampton.

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Copies of Hampton’s unaudited interim financial statements and its Management’s Discussion & Analysis for the six months ended February 29, 2024 are available on SEDAR+ at www.sedar.com.

About Hampton Financial Corporation

Hampton is a unique private equity firm that seeks to increase shareholder value through long-term strategic investments.

Through HSL, Hampton is actively involved in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer regulated by CIRO and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, the Northwest Territories, Ontario and Quebec. In addition, through HSL, the Company offers investment banking services, which include assisting companies in raising capital, advising on mergers and acquisitions, and assisting issuers in obtaining listings on recognized securities exchanges in Canada and abroad. HSL’s Corporate Finance Group provides early delivery. At this stage, growing companies need the capital they need to create value for investors. HSL continues to develop its asset management, advisory team and principal agent programs, providing the industry’s most experienced asset managers with a unique and flexible operating platform that provides additional freedom, financial support and tax effectiveness in building and managing their professional practices.

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The Company provides working capital and other financing solutions to early and mid-stage small and medium-sized businesses across Canada through its commercial lending and leasing subsidiary Oxygen Working Capital Corp., which acquired the Company after the end of the second quarter.

The Company is also exploring opportunities to diversify its revenue streams through strategic investments in both complementary and non-core businesses that can leverage the expertise of its Board of Directors and the diverse experiences of its management team.

For more information, please contact:

Olga Yuravlev
CFO
Hampton Financial Corporation
(416) 862-8701

Or

Peter M. Deeb
Chairman and CEO
Hampton Financial Corporation
(416) 862-8651

The TSXV has not approved or disapproved the contents of this press release in any way. Neither those TSXV or its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has approved or disapproved of the contents of this announcement Press release. This press release does not constitute or form part of an offer or invitation to do so Buy or sell securities in the United States or any other jurisdiction outside of Canada. The The securities being offered have not been and will not be registered in the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered or sold within the United States or to a US person without registration or pursuant to an available exemption from the registration requirements of the US Securities Act and applicable state securities laws. There will be no public offer Securities in the United States.

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Forward-Looking Statements

This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements“) within the meaning of applicable Canadian securities laws, which may include, without limitation, information and statements about or conclusions about the Company’s future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates and beliefs. All statements that are not statements of current or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “should,” “hopeful,” “recovery,” “anticipate,” “achieve,” “could,” “believe,” “plan.” , “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “could”, “will”, “project” or similar words, including negatives thereof, which refer to the future indicate results.

Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties and other factors that are beyond the Company’s ability to predict or control and which may cause actual events, results, performance or achievements of the Company to differ materially from future events events, results, performance and achievements expressed or implied by the forward-looking statements contained herein may differ. Forward-looking statements are not guarantees of future performance. Although the Company believes that all forward-looking statements contained herein are reasonable, given the use of assumptions and the significant risks and uncertainties associated with such statements, no assurance can be given that such forward-looking statements will prove to be accurate. Actual results may differ materially from those expressed or implied by the forward-looking statements contained herein. Accordingly, readers are cautioned to rely on their own assessment of the risks and uncertainties associated with the forward-looking statements contained herein and not to place undue reliance on such forward-looking statements. All forward-looking statements contained herein are qualified by this cautionary statement. All forward-looking statements contained herein speak only as of the date hereof. Except as required by applicable law, the Company undertakes no obligation and disclaims any intention to update or revise any forward-looking statements contained herein or to update the reasons that actual events or results may differ from those anticipated in the forward-looking statements contained herein may or may not differ, whether as a result of new information, future events or results or otherwise, except as required by applicable law.

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