Hampton Financial Corporation (“Hampton”)
(TSXV:HFC & HFC.PR.A) is pleased to report its financial
performance for the 3rd quarter ended May 31st, 2021.
Revenues for the quarter were $4,504,000 vs
$2,960,000 in the 3rd quarter of last year; an increase of 52%.
Net Income for the period was $ 300,000 or $0.01
per share compared to a loss of ($2,476,000) or ($0.08) per share
in 2020.
EBITDA for the quarter was $641,000 vs
($2,049,000) in the same quarter last year.
For the nine-month period ended May 31st, 2021,
Revenues were $11,477,000 vs $8,572,000; an
increase of 34% Net income for the same period was
$817,000 or $0.03 per share vs a loss of ($2,404,000) or ($0.08)
per share. EBITDA for the nine months was
$1,972,000 vs ($1,389,000) in the same period last year.
These 3rd quarter record results were derived
from strong operating performance in each of Hampton’s business
lines, and the realization of long-awaited costs savings resulting
from a number of strategic initiatives.
Hampton continues to develop its senior-advisor,
principal-agent platform which will offer the industry’s most
experienced wealth managers a unique and flexible operating
platform that provides additional operational freedom, financial
support and tax effectiveness as they build and manage their
professional practice.
“The 3rd quarter results represent
another record performance since becoming a public company. We want
to thank our loyal clients for their continued support, and our
exceptional team for their dedication and hard work despite the
many challenges posed by the COVID-19 situation. We fully expect to
end the fiscal year on a strong note,” said Hampton
Executive Chairman & CEO Peter Deeb.
This press release summarizes certain selected
financial data contained in the unaudited condensed consolidated
interim financial statements and Management’s Discussion and
Analysis for the three and nine months ended May 31, 2021 and
should not be considered a substitute for reading these full
disclosure documents which are available on SEDAR at
www.sedar.com.
About Hampton Financial
Corporation
Hampton is a unique private equity firm that
seeks to build shareholder value. through long-term strategic
investments. Through its wholly-owned subsidiary, Hampton
Securities Limited (“HSL”), Hampton is actively
engaged in family office, wealth management, institutional services
and capital markets activities. HSL is a full-service investment
dealer, regulated by IIROC and registered in Alberta, British
Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest
Territories, Ontario and Quebec. In addition, HSL provides
investment banking services, which include assisting companies with
raising capital, advising on mergers and acquisitions, and aiding
issuers in obtaining a listing on recognized securities exchanges
in Canada and abroad.
For more information, please contact:
Azmatali MehraliChief Financial OfficerHampton
Financial Corporation(416) 862-8701
Or
Peter M. DeebExecutive Chairman & CEOHampton
Financial Corporation(416) 862-8651
The TSX Venture Exchange has in no way
approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
No securities regulatory authority has
either approved or disapproved of the contents of this press
release. This press release does not constitute or form a part of
any offer or solicitation to buy or sell any securities in the
United States or any other jurisdiction outside of Canada. The
securities being offered have not been and will not be registered
under 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 U.S. person absent registration or pursuant to an
available exemption from the registration requirements of the U.S.
Securities Act and applicable state securities laws. There will be
no public offering of securities in the United States.
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, but are not limited to, information and statements
regarding or inferring the future business, operations, financial
performance, prospects, and other plans, intentions, expectations,
estimates, and beliefs of Hampton. All statements other than
statements of present or historical fact are forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "anticipate", "achieve",
"could", "believe", "plan", "intend", "objective", "continuous",
"ongoing", "estimate", "outlook", "expect", "may", "will",
"project", "should" or similar words, including negatives thereof,
suggesting future outcomes.
Forward-looking statements involve and are
subject to assumptions and known and unknown risks, uncertainties,
and other factors beyond Hampton’s ability to predict or control
which may cause actual events, results, performance, or
achievements of Hampton to be materially different from future
events, results, performance, and achievements expressed or implied
by forward-looking statements herein. These risks, uncertainties
and other factors include those factors discussed in greater detail
in the section entitled “Risk Factors” in Hampton’s Management’s
Discussion and Analysis for the three and nine months ended May 31,
2021 (which may be viewed on SEDAR at www.sedar.com). Furthermore,
Hampton notes that its business and prospects are subject to added
risks associated with and arising from COVID-19, and the
uncertainty of the effects, duration and severity of the
outbreak.
Forward-looking statements are not a guarantee
of future performance. Although Hampton believes that any
forward-looking statements herein are reasonable, in light of the
use of assumptions and the significant risks and uncertainties
inherent in such statements, there can be no assurance that any
such forward-looking statements will prove to be accurate. Actual
results may vary, and vary materially, from those expressed or
implied by the forward-looking statements herein. Accordingly,
readers are advised to rely on their own evaluation of the risks
and uncertainties inherent in forward-looking statements herein and
should not place undue reliance upon such forward-looking
statements. All forward-looking statements herein are qualified by
this cautionary statement. Any forward-looking statements herein
are made only as of the date hereof, and except as required by
applicable laws, Hampton assumes no obligation and disclaims any
intention to update or revise any forward-looking statements herein
or to update the reasons that actual events or results could or do
differ from those projected in any forward-looking statements
herein, whether as a result of new information, future events or
results, or otherwise.
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