Hampton Financial Corporation Announces Filing of Interim Financial Statements to Restate Q3 2021 Results
September 30 2022 - 5:00PM
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 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.
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