Investor Relations

Jason Ewart

Director and Executive Vice President, Capital Markets

Hank Payments and FinWise Bank Enter into Strategic Partnership to Offer Enhanced Consumer Lending and Savings Program and Payments Services

Mar 04, 2024

Toronto, Ontario, March 4, 2024 --Hank Payments Corp. (TSXV: HANK) an emerging North American leader in consumer fintech software-as-a-service with a banking platform that modernizes budgets and payments for enterprises and consumers, and FinWise Bank, a subsidiary of FinWise Bancorp (Nasdaq: FINW) a Fintech banking solutions provider, today announced the signing of a customer origination program agreement that will significantly enhance consumers’ ability to pay down loans, build savings and access credit solutions.

 

Hank Payments focuses on technology that modernizes payments and cash/budget management. The platform improves consumer and enterprise cash flow, payment discipline and efficiency – while saving money.


FinWise will provide payment services, including ACH origination, wires, check, and bill pay services through Mastercard’s Remote Payment and Presentment Service (RPPS), in collaboration with Hank systems.

 

Michael Hilmer, Chairman and CEO of Hank commented “We are excited to enter into this partnership with an innovative Fintech banking solutions provider like FinWise. The Company is highly focused on technology and automation and represents a best-in-class solution from our perspective.” He added, “With new technology developed by the Hank team in 2023, customer deposits will be housed by FinWise allowing Hank to earn fees on the deposits. The more payments and cash Hank manages, including consumer household payments, the higher the transiting deposits will be. This represents a new ongoing monthly revenue stream for Hank as transiting deposits increase high margin monthly fees and are expected to be accretive to our earnings. Implementation of the program will commence at the beginning of the second quarter of 2024.”

 

“We are excited to work with Hank Payments to offer consumers and businesses a strong payments solution,” said Kent Landvatter, CEO of FinWise. “This strategic partnership gradually moves FinWise into payments processing and is in-line with our commitment to expand and diversify our sources of recurring fee revenue. We also expect it to help diversify our deposit composition and over time reduce our cost of funds through relationship banking. Consistent with FinWise’s compliance and regulatory-first culture, the bank conducted an intensive due-diligence process and compliance assessment.”

 

About Hank Payments Corp. 


Hank Payments Corp (the Company or “Hank”) is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those partners to operate new lines of business and revenue streams, using Hank. For more information visit our website at www.hankpayments.com.


About FinWise Bank


FinWise is reshaping the Banking value chain through Fintech enablement. The Company is at a key expansion point as it incorporates BIN Sponsorship and Payments HUB offerings into its current platforms, creating an integrated Fintech banking solutions provider. Its existing Strategic Program Lending business, done through scalable API-driven infrastructure, powers deposit, lending and payments programs for leading Fintech brands. FinWise also manages other Lending programs such as SBA 7(a), Real Estate, and Leasing, which provide optionality for disciplined balance sheet growth. FinWise is well positioned to help Fintechs through its compliance oversight and risk management-first culture.- For more information visit www.finwise.bank.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at https://ir.hankpayments.com/

 

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 release.

 

 

07 Mar, 2024
Toronto, Ontario, March 7, 2024 - Hank Payments Corp. (“ Hank ” or the “Company”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to announce it has signed South Carolina based, Clinton College, for its Hank EDU platform. The college will initially launch Hank’s proprietary “FAST FUNDS – Direct to Debit Card” product, which allows colleges to seamlessly distribute excess funds collected, through bursaries, student loans, and rebates, back to the students. Implementation is scheduled for April. “We’re proud to have been chosen by this historical state college for the implementation of Hank’s FAST FUNDS and look forward to launching and building on the early success of our platform.” said Michael Hilmer, CEO and Chairperson. About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those partners to operate new lines of business and revenue streams, using Hank. The Partners benefit from new revenue streams and powerful insights that open up additional opportunities for Partners to grow assets using Hank. The Company operates exclusively across the USA, with certain leadership and technology functions in Toronto. Hank houses the complex technology, banking, treasury, customer service, sales and operations teams that acquire and service consumers. Hank currently charges upfront enrolment/setup fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer (the “Users”). The Company acquires Users through various channels including (i) small to medium sized enterprises (the “SME Partners”) and (ii) large enterprise businesses (the “Enterprise Partners”). The Company’s BaaS model is emerging which is expected to add additional fees including software licensing and usage fees. For more information visit our website at www.hankpayments.com. Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at https://ir.hankpayments.com/ 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 release.
03 Mar, 2024
March 3, 2024 - The Power Play by The Market Herald has announced the release of a new video interview with Chairperson and CEO, Michael Hilmer, of Hank Payments Corp. to discuss their latest news. Hank Payments (TSXV: HANK) announces record revenue for the quarter ending December 31, 2023. Link to the interview is below: https://stockhouse.com/video/thewatchlist/VBw6ija1 The Watchlist provides investors with a quick snapshot of what they need to know about the Company's latest press release through exclusive insights and interviews with the Company’s executives.
29 Feb, 2024
Toronto, Ontario, February 29, 2024 - Hank Payments Corp. (“ Hank ” or the “Company”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to provide its second quarter financial results for the period ending December 31, 2023. FINANCIAL HIGHLIGHTS Record revenue for the quarter of $1.91 MM, an increase of 21% over the September 2023 quarter and 27% growth over the same quarter in 2022; Adjusted loss from operations of $146,221 representing over 70% improvement as compared to the September 2023 quarter; Quarterly Canadian licensee revenues of over $500,000 during the quarter which is the minimum quarterly licensing fee to continue through the multi-year term of the agreement; Strong Gross Margins Exceeding 90%. BUSINESS HIGHLIGHTS Three US colleges contracted during the quarter for the Hank EDU platform with several more colleges engaged and contract announcements expected on an ongoing quarterly basis; Several colleges completing their integration phase and launching in the coming months; ·Material rebound in the auto sector delivered over 11% growth for the year with a 39% surge in customer enrolments in the month of December; Large dealer groups continued to be signed with launches expected in the coming quarters; and Strategic investments received subsequent to the quarter end from market development partners for two new products expected to launch this year, Hank Equity Builder and Hank Doors. Michael Hilmer, CEO and Chairperson commented "We are very pleased with the progress this past quarter, which showed all active lines of business and products delivering value and signings, with an exciting surge in our auto customer base. Auto has always performed predictably and the upward trend is expected to continue through the year, driving incremental contributions to margin.” He added, “While it is a challenge to grow quickly while managing costs to achieve positive EBITDA, our team as been surgical and has made tremendous progress with the path to positive EBITDA now imminent. The strategic investments we received following the quarter will help drive our two new products, Hank Equity Builder and Hank Doors, which are expected to further diversify our revenue streams across new markets and deliver meaningful recurring contributions in 2025." The Company granted 75,000 stock options at an exercise price of $0.10 to an employee. The options are subject to the standard provisions of the Company’s Omnibus Equity Incentive Plan. A comprehensive discussion of Hank’s financial position and results of operations is provided in the financial statements and MD&A for the six-month period ending December 31, 2023, filed on SEDAR. About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those partners to operate new lines of business and revenue streams, using Hank. The Partners benefit from new revenue streams and powerful insights that open up additional opportunities for Partners to grow assets using Hank. The Company operates exclusively across the USA, with certain leadership and technology functions in Toronto. Hank houses the complex technology, banking, treasury, customer service, sales and operations teams that acquire and service consumers. Hank currently charges upfront enrolment/setup fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer (the “Users”). The Company acquires Users through various channels including (i) small to medium sized enterprises (the “SME Partners”) and (ii) large enterprise businesses (the “Enterprise Partners”). The Company’s BaaS model is emerging which is expected to add additional fees including software licensing and usage fees. For more information visit our website at www.hankpayments.com . Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at https://ir.hankpayments.com/ 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 release.
05 Feb, 2024
February 5, 2024 - The Power Play by The Market Herald has announced the release of a new video interview with Chairperson and CEO, Michael Hilmer, of Hank Payments Corp. to discuss their latest news. Hank Payments (TSXV: HANK) announces record revenue for the quarter ending December 31, 2023. Link to the interview is below: https://stockhouse.com/video/thewatchlist/yeqfyhom?mediaId=YeqFYHoM  The Watchlist provides investors with a quick snapshot of what they need to know about the Company's latest press release through exclusive insights and interviews with the Company’s executives.
05 Feb, 2024
Toronto, Ontario, February 5, 2024 - Hank Payments Corp. (“ Hank ” or the “ Company ”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to announce it has achieved a critical revenue milestone for the quarter ending December 31, 2023. Complete financials will be filed by February 29, 2024. FINANCIAL & BUSINESS HIGHLIGHTS FOR FISCAL Q2, 2024 Revenue for the quarter exceeded $1.85 MM, an increase of 21% over the September 2023 quarter and 27% growth over the same quarter in 2022; Canadian licensee revenues contributed over $500,000 in revenue on the quarter and this minimum contracted revenue will continue for the three-year minimum contract term; Adjusted loss from operations has improved by over 50% as compared to the September 2023 quarter; The Company announced a partnership with Ingo Money to power instant disbursements to students initially for Hank’s education platform (“Hank EDU”) thus saving time and money for colleges disbursing funds to students; New colleges signed up for the Hank EDU platform in the states of Texas and Oklahoma, with implementations on track for calendar Q1, 2024; A rich pipeline continues to strengthen for our EDU product suite with several more closings and announcements expected quarterly; and Post fiscal Q2, strategic investments were received from market development partners for two new products expected to launch this year, Hank Equity Builder and Hank Doors. Michael Hilmer, CEO and Chairperson commented “These are the strongest quarterly financial results in our history by a wide margin. We have been diligent about investing in products that will be profitable within a reasonable time horizon, while managing overhead carefully.” He added “Our team is focused on achieving positive Adjusted EBITDA results in calendar 2024, scaling our Automotive and EDU products and launching the Hank Doors and Hank Equity Builder products by calendar 2024 year end.” The Company looks forward to reporting its second-quarter financials for the period ending December 3 1 , 2023, by the end of February, 2024. About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those partners to operate new lines of business and revenue streams, using Hank. The Partners benefit from new revenue streams and powerful insights that open up additional opportunities for Partners to grow assets using Hank. The Company operates exclusively across the USA, with certain leadership and technology functions in Toronto. Hank houses the complex technology, banking, treasury, customer service, sales and operations teams that acquire and service consumers. Hank currently charges upfront enrolment/setup fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer (the “Users”). The Company acquires Users through various channels including (i) small to medium sized enterprises (the “SME Partners”) and (ii) large enterprise businesses (the “Enterprise Partners”). The Company’s BaaS model is emerging which is expected to add additional fees including software licensing and usage fees. For more information visit our website at www.hankpayments.com . Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at https://ir.hankpayments.com/ 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 release.
04 Feb, 2024
February 4, 2024 - The Power Play by The Market Herald has announced the release of a new video interview with Chairperson and CEO, Michael Hilmer, of Hank Payments Corp. to discuss their latest news. Hank Payments (TSXV: HANK) receives key strategic investment. Link to the interview is below: https://stockhouse.com/video/thewatchlist/jadwaur8?mediaId=jaDwAuR8 The Watchlist provides investors with a quick snapshot of what they need to know about the Company's latest press release through exclusive insights and interviews with the Company’s executives.
30 Jan, 2024
Toronto, Ontario, January 30, 2024 - Hank Payments Corp. (“ Hank ” or the “ Company ”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers announces it has closed a non-brokered private placement of 484 units (“Unit”) for total gross proceeds of CDN $484,000 (the “Offering”) from strategic partners for the Hank Doors and the Hank Equity Builder products. Hank has secured an investment from a strategic real estate industry partner to drive introductions to large asset managers and residential property owners representing thousands of rental doors, in a market of several million tenants that need help with their cash management. The investor is a developer with deep relationships cultivated over many years and their investment is evidence of the confidence they have in Hank Doors. Hank also secured an investment from a US based financial advisory firm interested in becoming a client as well as developing the US Market for Hank Equity Builder. Details of the anticipated licensing and distribution agreement are being negotiated and will be announced as the contracts are finalized. Hank Equity Builder offers a unique budget and cash management platform for clients while also allowing financial advisors to monitor and manage client cash flow against preset objectives. The product is expected to surface additional investible cash which can automatically be transferred to investment accounts by clients or their financial advisors. "We are very pleased to attract these terrific and committed partners to assist us in bringing these new products to market over the next few quarters. Partnering with industry experts is expected to shorten time to market and ensure our products and our go to market strategy are sound. The rental and wealth management markets provide tremendous opportunities, and both have experienced challenges for their respective clients due to a rising inflationary environment, housing shortages and less disposable income” stated Michael Hilmer, Chairperson and CEO. Each Unit consists of one $1,000 secured convertible debenture (“Debentures”) and 6,667 common share purchase warrants (“Warrant”). The Debentures mature on January 30, 2029 (the “Term”) and bear interest at a fixed rate of 10% per annum, payable in arrears semi-annually in cash on December 31 and June 30 of each year. The Debentures are secured by the assets of the Company through a general security agreement and rank equally with all other Debentures. At any time during the Term, a holder of Debentures may elect to convert the outstanding net principal amount, or any portion thereof, into common shares at a conversion price of $0.075 per share during the first year and $0.10 per share thereafter (the “Conversion Price”). The Company may force the conversion of the principal amount of the then outstanding Debentures at any time at the Conversion Price on not less than 5 days’ notice if the volume weighted average trading price of the common shares on the TSX Venture Exchange (the “TSXV”) for any 10 consecutive trading day period is equal to or greater than $0.30. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.10 per common share until January 30, 2026. The use of proceeds from the Offering will principally be to expand the Company’s portfolio of clients, provide them with first-class technology (including further advancing the Platform to accommodate complex multi-payment large scale Enterprise customers) and end-to-end service and secondarily for general working capital. All securities issued pursuant to the Offering are subject to a statutory hold period ending May 30, 2024. The Offering is subject to TSX Venture Exchange acceptance of regulatory filings. The issuance of the Convertible Debentures and the Warrants pursuant to the Offering were (and, if applicable, any underlying common shares and Warrants shall be) completed on a private placement and prospectus exempt basis, as applicable, such that the issuances are (or in the case of the Units and any underlying common shares and Warrants, shall be) exempt from any applicable prospectus and securities registration requirements. All securities issued pursuant to the Offering are subject to a statutory hold period ending May 30, 2024. The Offering is subject to TSX Venture Exchange acceptance of regulatory filings. The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Company also announced today that it has granted incentive stock options (the "Options) to certain directors, officers, consultants and employees of the Company to acquire an aggregate of 1,945,000 common shares in the capital of the Company as well as 700,000 restricted share units (the RSUs”). The Options were granted at an exercise price of $0.10. The Options will vest one third upon the grant date and one third annually for the next two years. Of this option grant, 1,850,000 are exercisable for a ten-year term, expiring January 29, 2034, and 95,000 Options are exercisable for a five-year term, expiring January 29, 2029. All Options and RSUs were granted pursuant to the Company's Omnibus Equity Incentive Plan. About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is a North American leader in consumer Fintech Software-as-a-Service (SaaS) and Banking-as-a-Service (BaaS) platforms that manages consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. The Hank stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those partners to operate new lines of business and revenue streams, using Hank. The Partners benefit from new revenue streams and powerful insights that open up additional opportunities for Partners to grow assets using Hank. The Company operates exclusively across the USA, with certain leadership and technology functions in Toronto. Hank houses the complex technology, banking, treasury, customer service, sales and operations teams that acquire and service consumers. Hank currently charges upfront enrolment/setup fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer (the “Users”). The Company acquires Users through various channels including (i) small to medium sized enterprises (the “SME Partners”) and (ii) large enterprise businesses (the “Enterprise Partners”). The Company’s BaaS model is emerging which is expected to add additional fees including software licensing and usage fees. For more information visit our website at www.hankpayments.com . Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at https://ir.hankpayments.com/ 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 release.
04 Jan, 2024
Toronto, Ontario, January 4, 2024 - Hank Payments Corp. (“ Hank ” or the “ Company ”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to provide the results of its December 29 th AGM and business highlights. The Annual General and Special Meeting of Shareholders was held December 29, 2023 and all resolutions were approved with the majority of shareholders voting in favor in all resolutions. The resolutions passed are listed below: Fixing the number of Directors at four and electing Michael Hilmer, Jason Ewart, Timothy Farley and Jennifer Fallon as the Directors of the Company for the ensuing year; Appointment of McGovern Hurley LLP as the Company’s auditors; Approval of the Company’s omnibus equity incentive plan with certain amendments, including a small increase in the number of shares reserved under the plan and compliance with the new TSX Venture Exchange Policy 4.4; and The special resolution to amend the by-laws of the Corporation to require that advance notice be provided to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation other than pursuant to a requisition of a shareholder meeting made pursuant to the provisions of the Business Corporations Act (Ontario) (the "OBCA") or a shareholder proposal made pursuant to the provisions of the OBCA. HIGHLIGHTS FROM 2023 March 2023, Hank announced the signing of a national technology license agreement with an initial term of three years comprising a minimum base revenue of $5 million plus 22% maintenance for a total of $6.1 million in revenue to be earned over the term. For the first quarter ending September 30, 2023, $169,444 of licensing revenue was recognized representing one month of licensing revenue which will be reported and earned at a rate of $508,332 per quarter going forward over three years, significantly increasing future revenue and earnings; Most recent quarter ending September 30, 2023, saw the adjusted loss decline by 25% to $507,797 and quarterly gross margins remaining strong at 89%; October 2023, the Company announced a partnership with Ingo Money to power instant disbursements initially for Hank’s education platform (“Hank EDU”). Hank EDU includes a product called Fast Funds that enables seamless instant disbursements to students, saving time and money while enabling compliance with strict legal requirements around distributions of funds for students; Investment in expanding the Education EDU sales team yielded results with three new colleges signed in 2023; and Thirty-two new Auto Dealership partners were added throughout 2023 contributing to a 39% surge in new customer enrollments for the month of December in comparison to December 2022. "This past year has been transformative for Hank Payments," stated Michael Hilmer, Chairperson and CEO. He added “We saw the expansion of the Hank EDU platform, sales team and engagement with national college associations. In 2024, we will be focusing on substantial progress, achieving positive EBITDA results, growth in our Education and Automotive Verticals while advancing the Hank platform into new channels including the property rental and consumer wealth management markets.” About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is an emerging North American leader in the Banking-as-a-Service (BaaS) market. The Hank platform modernizes budgets and payments for enterprises and consumers and automates tedious functions that result in time and economic savings for platform users. The Hank technology stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those Partners to operate new revenue streams, while modernizing legacy payments. The Company earns recurring transaction and licensing fees from consumers and enterprises and is active in several markets and geographies including Canada and the United States. For more information visit the Hank Payments website at www.hankpayments.com . Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at www.hankpayments.com . 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 release.
18 Dec, 2023
Toronto, Ontario, December 18, 2023 - Hank Payments Corp. (“ Hank ” or the “ Company ”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to announce the signing of a contract for its education product platform (“Hank EDU”) with a Texas based college. The college will initially launch Hank’s proprietary FAST FUNDS product, which allows colleges to seamlessly distribute excess funds collected, through bursaries, student loans, and rebates, back to the students. Hank’s FAST FUNDS product was created to improve the schools’ productivity while delivering prompt and secure payment services to its student body. The Company participated in several Texas college conferences and administrative association events in 2023 gaining insight into administrative challenges faced by schools to develop solutions that the Hank EDU platform can provide. The college is targeting to launch in the second quarter of calendar 2024. Michael Hilmer, Chairperson and CEO commented “We are pleased to partner with this college representing 3000 annual enrolments, coming on the heels of our Oklahoma college announcement last week”. He added “The total market size of Texas’ higher education system is material for Hank, consisting of over 450 colleges, community colleges and trade schools representing well over 2,000,000 students.” About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is an emerging North American leader in the Banking-as-a-Service (BaaS) market. The Hank platform modernizes budgets and payments for enterprises and consumers and automates tedious functions that result in time and economic savings for platform users. The Hank technology stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those Partners to operate new revenue streams, while modernizing legacy payments. The Company earns recurring transaction and licensing fees from consumers and enterprises and is active in several markets and geographies including Canada and the United States. For more information visit the Hank Payments website at www.hankpayments.com . Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at www.hankpayments.com . 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 release.
14 Dec, 2023
Toronto, Ontario, December 14, 2023 - Hank Payments Corp. (“ Hank ” or the “ Company ”) (TSXV: HANK), an emerging North American leader in the Banking-as-a-Service (BaaS) market with a platform that modernizes budgets and payments for enterprises and consumers is pleased to announce the signing of a contract for its education product platform (“Hank EDU”) with an Oklahoma based college with annual enrolments exceeding 3,000 students. The college will initially launch Hank’s proprietary student credit balance disbursements called FAST FUNDS for remittances to students. The FAST FUNDS product will replace the college’s previous solution, thereby improving the productivity, cost-effectiveness and security of the current process. The FAST FUNDS disbursement product will provide students with multiple options on how they receive their disbursements: · Within minutes using Direct to Debit card or prepaid card · Within minutes using Direct to PAYPAL Account · Within days using Bank Transfer · Within 5 to 10 days using check The Company expects that its FAST FUNDS product will reduce the colleges disbursement expense by up to 70%. FAST FUNDS will also reduce the staff requirements to process disbursements by minimizing check production. Integration will commence in January and the college is expected to launch in the coming months. Michael Hilmer, Chairperson and CEO commented “Our material funnel is starting to deliver the closings we expected, and we are delighted that this college wants to launch early in the new year.” About Hank Payments Corp. Hank Payments Corp (the Company or “Hank”) is an emerging North American leader in the Banking-as-a-Service (BaaS) market. The Hank platform modernizes budgets and payments for enterprises and consumers and automates tedious functions that result in time and economic savings for platform users. The Hank technology stack provides for several vertical market applications of the technology, with features specific to channels and enterprise accounts (“Partners”) that allow those Partners to operate new revenue streams, while modernizing legacy payments. The Company earns recurring transaction and licensing fees from consumers and enterprises and is active in several markets and geographies including Canada and the United States. For more information visit the Hank Payments website at www.hankpayments.com . Forward-Looking Statements This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’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 Company’s expectations, estimates, forecasts, and projections and include, without limitation, statements regarding the future success of the Company’s business. Financial performance figures in Canadian Dollars unless otherwise indicated by “U” representing United States Dollars. The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several 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 Company assumes no obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE CONTACT: For more information regarding Hank Payments Corp., please contact: Jason Ewart, EVP Capital Markets, at 416-580-0721. For Investor Relations please contact ir@hankpayments.com and visit the Company’s website at www.hankpayments.com . 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 release.
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