Toronto, Ontario–(Newsfile Corp. – November 12, 2021) – Hank Payments Corp. (TSXV: HANK) (“Hank” or the “Company”), a North American financial technology company that acts as a consumer’s financial concierge, using powerful technology to automate the complexities of personal cash flow management, is pleased to announce that the Power Play by the Market Herald issued an interview with Mr. Jeff Guthrie, Hank’s new President and Chief Operating Officer. Mr. Guthrie is an accomplished financial services leader with over thirty years of experience in payments, banking and financial services. Jeff was a founding executive of Moneris Solutions (“Moneris”) and today Moneris remains Canada’s number one payment processor and one of North America’s largest.
Mr. Guthrie sat down with Caroline Egan to discuss the appointment.
Hank also wishes to announce that, subject to regulatory approval, it has engaged the services of Independent Trading Group (“ITG”) to provide market-making services in accordance with TSX Venture Exchange policies. ITG will trade shares of the Company on the TSXV with the objective of maintaining a reasonable market and improving the liquidity of the Company’s common shares. Under the agreement, ITG will receive compensation of CAD$5,000 per month. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days’ notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.
The Company would like to clarify a statement in its October 13, 2021 news release in which it stated that it had engaged the services of Boom Capital Markets Inc. (“Boom”) to provide market making and investor relations services. Boom was engaged to provide only investor relations services. ITG has now been engaged by the Company for market making services.
About Independent Trading Group
ITG is Canada’s only brokerage firm dedicated specifically to professional trading. As Canada’s foremost Market Making Firm, ITG provides Market Making and Liquidity Provider services that are objective and focused. With its head office in Toronto, ITG employs real traders and provides real liquidity, with an underlying emphasis on integrity and success.
About Hank Payments Corp.
Hank is a financial technology company. The Hank software platform (the “Hank Platform“) acts as a consumer’s personal, financial concierge using a powerful technology to automate the complexities of personal cash flow management. Through its FDIC (Federal Deposit Insurance Corporation) insured issuing bank partners in the United States, Hank helps consumers in every state find funds in their existing cash flow and automate their monthly payments. The Hank Platform instructs its partner banks to debit consumers when they have cash, stores the cash with partner banks, then automatically instructs partner banks to pay bills and loans as they come due, and often sooner than required. Approximately half of Hank’s customers are financially sound and use the Hank Platform for convenience, while the other half improve their payment performance through the use of the Hank Platform. One hundred percent of Hank’s customers are in the USA and pay setup and ongoing monthly processing fees while remaining on the Hank Platform for an average of three years. Hank continues to innovate and anticipates launching more expansive features to its expected growing customer base that will provide greater visibility into their cash flow, credit performance, and viability to borrow or refinance at lower rates, including introducing Hank customers to interested lenders.
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Corporation’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Corporation’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Corporation’s business.
The forward-looking statements in this news release are based on certain assumptions, including without limitation the Shares beginning trading on the TSXV. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Corporation assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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