NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Hampton Financial Corporation (“Hampton” or the “Corporation”) (TSXV:HFC & HFC.PR.A) announces that it is refiling its unaudited interim financial statements for the three and nine months ended May 31, 2022 and 2021, together with the corresponding MD&A, to reflect certain restated results for the three and nine months ended May 31, 2021 which are also included as comparative numbers in the May 31, 2022 interim financial statements previously filed.
During the course of a review of the May 31, 2022 financial statements it was determined by management of the Corporation, and agreed to by the Corporation’s auditors, that it was necessary to revise certain comparative results for the three and nine months ended May 31, 2021. These revisions, which relate to valuation of marketable securities and warrants and the calculation of share-based compensation, result in the reallocation of net income between successive quarters of the fiscal year ended August 31, 2021. Hampton would like to emphasize that these revisions affect only profit and loss and respective cash flow allocations between successive quarters and do not involve any balance sheet items previously reported for the interim period ended May 31, 2021. Moreover, previously reported numbers for revenues, expenses and net income, as well as net cash flows, for the fiscal year ended August 31, 2021 have remained unchanged. There have been no changes to any of the previously reported numbers related to fiscal year 2022. Consequently, the Corporation is refiling the interim financial statements for the three and nine months ended May 31, 2022 and 2021, together with the corresponding MD&A, to reflect the restated results for the three and nine months ended May 31, 2021.
About Hampton Financial Corporation
Hampton Financial Corporation 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, the company 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:
Olga Juravlev
Chief Financial Officer
Hampton Financial Corporation
(416) 862-8701
Or
Peter M. Deeb
Executive Chairman & CEO
Hampton 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.
