Hampton Financial Corporation
(“
Hampton” or the “
Company”,
TSXV:HFC) today announced its financial results for the 1st quarter
ended November 30th, 2024.
First Quarter ended November
30th, 2024.
IFRS results highlights:
- Q1 Revenue of $3,133,000;
an increase of 80% year-over-year
- Q1 Net Loss of $(799,000)
or $(0.01) per share;
Fiscal results (IFRS results adjusted
for non-cash Items) highlights:
- Q1 Adjusted Net Loss of
$(505,000) or $(0.01) per share;
-
Q1 EBITDA of $240,000 vs $(249,000) in the
comparative quarter last year
Summary of Corporate
Developments:
Our 1st quarter results reflect the continued challenging
environment across the Capital markets industry. Rising interest
rates and global uncertainty continue to delay many corporate
finance and broader financial decisions on the part of issuers.
While 2025 is showing some signs of improvement, the year ahead for
our core business remains unclear. That said we intend to move
ahead with a number of initiatives to further expand our business
portfolio, while growing our existing Wealth Management prorate and
Capital Markets businesses. Our acquisition of Oxygen Working
Capital in early 2024 has been integrated and we continue to
explore opportunities to expand the landing book.
“The first quarter results continue to demonstrate the
industry-wide challenges faced during the fall of 2024. Capital
Markets activities have started to improve as interest rates have
stabilized, so we are hopeful for a stronger second half of the
year. We remain optimistic for the balance of the fiscal
year,” said Hampton Executive Chairman & CEO Peter
Deeb.
Copies of Hampton’s unaudited interim financial statements and
its Management’s Discussion & Analysis for the three months
ended November 30, 2024, can be accessed 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 CIRO and
registered in Alberta, British Columbia, Manitoba, Saskatchewan,
Nova Scotia, Northwest Territories, Ontario, and Quebec. In
addition, the Company, through 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 and HSL’s Corporate Finance Group provides early stage,
growing companies the capital, they need to create value for
investors. HSL continues to develop its Wealth Management, Advisory
Team and Principal-Agent programs which offers to the industry’s
most experienced wealth managers a unique and flexible operating
platform that provides additional freedom, financial support, and
tax effectiveness as they build and manage their professional
practice.
Through its wholly-owned subsidiary, Oxygen Working Capital
(“OWC”) the company offers factoring and other commercial financing
services to clients across Canada.
The Company is exploring opportunities to diversify its sources
of revenue by way of strategic investments in both complimentary
business and non-core sectors that can leverage the expertise of
its Board and the diverse experience of its management team.
For more information, please contact:
Olga JuravlevChief Financial OfficerHampton Financial
Corporation(416) 862-8701
Or
Peter M. DeebExecutive Chairman & CEOHampton Financial
Corporation(416) 862-8651
The TSXV has in no way approved nor disapproved the
contents of this press release. Neither the TSXV nor its
Regulation Services Provider (as that term is defined in the
policies of the TSXV) 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 the Company. 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 “should”, “hopeful”, “recovery”, “anticipate”,
“achieve”, “could”, “believe”, “plan”, “intend”, “objective”,
“continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”,
“will”, “project” 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 the Company’s ability to predict or control which
may cause actual events, results, performance, or achievements of
the Company to be materially different from future events, results,
performance, and achievements expressed or implied by
forward-looking statements herein. Forward-looking statements are
not a guarantee of future performance. Although the Company
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, the Company 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, except as
required by applicable laws.
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