Lendified Announces Appointment of CEO and Provides Corporate Updates

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Toronto, Ontario–(Newsfile Corp. – October 20, 2020) – Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the “Company” or “Lendified“) is pleased to announce the appointment of John Gillberry as Chief Executive Officer and Director of the Company, effective immediately. Mr. Gillberry will succeed Troy Wright, who will continue as Vice-Chair of the Board of Directors.

John Gillberry is a seasoned senior executive with nearly three decades of experience in areas of managing the finance and operations of special situations and venture capital backed enterprises. Mr. Gillberry is the founder and president of a specialized corporate finance advisory firm providing capital and expertise in areas of mergers, acquisitions, asset-based lending solutions, capital acquisition and other growth strategies which may take advantage of non-traditional or equity financing. He has also successfully completed various corporate transactions including mergers, acquisitions, cross-border business arrangements and international business agreements.

Mr. Gillberry commented, “I am excited about the opportunity that Lendified presents and it is uniquely positioned to take advantage of a very large and underserved market. The credit underwriting foundation that we are starting from is distinct from any other in this market and we are pleased to be once again originating new loans to independent business owners.”

Mr. Wright commented, “I am very excited about John joining the Lendified team as CEO. We have put so much into the business as a team and this change will allow me to continue to bring strategic leadership at the board level as Vice-Chair. I will also continue with a number of the Company’s day to day activities.” The Board of Directors wishes to thank Mr. Wright for his service as Chief Executive Officer and looks forward to his continued contributions as Vice-Chair of the Board of Directors.

In addition, Lendified announces that Guy Charette, a Director of the Company, has been appointed as the Chair of the Board of Directors and Peter Ostapchuk, a Director of the Company, has been appointed as Chair of the Audit Committee, each effective immediately. The Board of Directors of the Company is now comprised of Guy Charette (Chair), Troy Wright (Vice-Chair), Perry Dellelce, Peter Ostapchuk and John Gillberry and the Audit Committee of the Company is comprised of Peter Ostapchuk (Chair), Guy Charette and Perry Dellelce.

The Company is also pleased to announce, as a sign of confidence in new management of the Company, that the Company’s primary senior lenders have resumed financing new loans of the Company.

Further to the Corporation’s press release dated October 2, 2020, the Company announces that, in addition to the Ontario Securities Commission, each of the British Columbia Securities Commission and the Alberta Securities Commission have revoked the cease trade orders issued in these jurisdictions in respect of the securities of the Corporation.

ABOUT LENDIFIED HOLDINGS INC.

Lendified, a company located in Ontario, Canada, is a Canadian FinTech company operating a lending platform which provides working capital loans to small businesses across Canada through a wholly-owned subsidiary.

Further Information

For further information regarding Lendified, please contact:

Troy Wright, Director and Vice-Chair
(647) 381-9218
troy.wright@lendified.com

Neither the TSXVE nor its Regulation Services Provider (as that term is defined in the policies of the TSXVE) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements, including, but not limited to, the Company’s senior lenders willingness to continue to fund new loans. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company’s ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.