Investor Relations

Jason Ewart

Director and Executive Vice President, Capital Markets

COMPANY

Investor Relations

Hank powers modernized payment experiences and outcomes for consumers and the organizations that serve them.

Hank Payments

Hank Payments Corp 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.

PRESS RELEASES
November 6, 2024
Toronto, Ontario, November 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 wishes to respond to the press release that was issued by Melrose Ventures (the “Melrose Group”) on November 4, 2024. The Company believes that the take-over offer is without merit and the claims made by the Melrose Group in the press release are baseless and defamatory. The Melrose Group are not the business founders of Hank. Hank does not owe any debts to the Melrose Group, as is evidenced in the Company’s financial statements. There have been no insider reports, early warning reports or press releases filed regarding the Melrose Group’s claim of an ownership position exceeding 10% of the Company. These are regulatory requirements, and their statement of a greater than 10% ownership of Hank is in violation of the regulations given no filings have been completed. The Melrose Group have been informed of these requirements by the Company in the past and they have not provided any proof of ownership of shares of Hank. The Group states that their intention is to purchase a minimum of 8.5 mm shares of the Company to “bring our stake above 51%” does not make any sense based on the number of issued and outstanding shares of the Company being 132,720,376 as of November 1, 2024. On Saturday, November 2, 2024, the Melrose Group sent an email to the Company of its intention to submit a takeover bid and then on November 3rd they sent another email threatening to issue a news release. There was no formal take-over offer provided to the Company on November 2nd. The Melrose Group attempted to extract non-public information regarding the Company and its ongoing transaction announced in September 2024. To be clear, no formal takeover bid has been provided by Melrose Group and they have not adhered to any of the rules and regulations required in order to make a proper takeover bid to Hank’s shareholders. The Company will only respond to a bona fide takeover bid that is in accordance with the rules and regulations that govern such a transaction. This is not that and the Company will not respond further to baseless press releases provided by the Melrose Group.  The Company is continuing with the acquisition announced in August, has grown revenues meaningfully and has early interest from customers in using the technology being acquired and the Company believes that in time the transaction will create meaningful value. 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. 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.
November 2, 2024
Toronto, Ontario, November 2, 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 the non-brokered private placement of 744 units (“Unit”) for total gross proceeds of $744,921 (the “Offering”) announced on October 2, 2024. Each Unit consists of one $1,000 secured convertible debenture (“Debentures”) and 10,000 common share purchase warrants (“Warrant”). The Debentures mature on and become payable on November 1, 2029, (the “Term”) and bear interest at a fixed rate of 10% per annum, payable in arrears semi-annually 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 $0.05 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 (i) 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 $0.20; (ii) immediately prior to completion of a change of control; or (iii) the entering into of a merger, amalgamation, arrangement or other reorganization by the Corporation with another unrelated corporation resulting in the acquisition of 20% of issued and outstanding Common Shares of the resultant Corporation by a person or group of persons acting jointly or in concert; or (iv) on the maturity date. The Company may also elect to convert the interest owing at the then market price of its common shares at the time the interest becomes payable or upon a change of control, in accordance with applicable TSXV rules. Each Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.075 per common share for a period of two years from issuance. The proceeds from the Offering will principally be used for debt repayment and general working capital. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and a day from closing. The Offering is subject to TSX Venture Exchange acceptance of regulatory filings . Further to our October 2, 2024, news release, an aggregate principal amount $2,544,000, 10% secured convertible debentures and $200,732 of related interest were converted into an aggregate of 54,894,641 common shares of the Company (the “Debenture Conversion”). The Company also issued 4,677,084 common shares pursuant to the redemption of previously granted and outstanding restricted share units of the Company (the “RSU Issuance”).  All securities issued pursuant to the Offering and Debenture Conversion are subject to statutory hold periods. The Offering and Debenture Conversion are 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. 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. 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/
October 28, 2024
Toronto, Ontario, October 28, 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 its fourth quarter and year end financial results for the period ending June 30, 2024. All figures are in CAD. FINANCIAL HIGHLIGHTS Revenue for the fourth quarter ending June 30, 2024, exceeded $1.98 MM, an increase of 41% over the June 2023 quarter; Full year revenue of $7.38 MM, an increase of 25% year over year; Adjusted loss from operations for Q4 improved by 17% to $239,986 as compared to Q3, 2024, as a result of continued increase in revenues and lower operating expenses; Company continues prioritizing positive cash flow and EBITDA from operations and is focused on growth of high margin revenue while investing carefully in technology and marketing. Over the past year, the Company has been focused on driving organic growth through new Enterprise Partner agreements given the size and value of the overall opportunity and scalable consumer acquisition model. The Company will continue to innovate with new features that help clients and the enterprises that serve consumers to better manage and monitor their respective financial goals and performance. New products and features are expected to increase retention and profitability of consumer and enterprise partner relationships. Consistent with the previous quarter, Hank continued to experience growing revenues for the quarter ending June 30, 2024. The Company incurred an adjusted loss from operations of $239,986 in Q4, 2024 compared to an adjusted loss from operations of $288,123 in the previous quarter, an improvement of 17%. The decreased adjusted loss for the quarter is due to an increase in revenues providing higher gross profit and lower operating expenses. The Company incurred a loss from operations of $308,103 in Q4, 2024 as compared to a loss from operations of $452,468 in the previous March 2024 quarter an improvement of 32%. Revenue increased by $1,477,971 or 25% for the year ended June 30, 2024, in comparison to the year ended June 30, 2023. The increase was primarily due to the launch in September 2023 of a new licensing agreement, and the addition of new revenue streams from education. The Company recorded an adjusted loss from operations of $1,182,127 for the year ended June 30, 2024, compared to adjusted loss from operations of $1,814,056 for the year ended June 30, 2023, an improvement of 35%. The Company recorded a loss from operations of $1,723,738 for the year ended June 30, 2024, compared to a loss from operations of $2,567,169 for the year ended June 30, 2023, an improvement of 33%. Michael Hilmer, CEO and Chairperson commented “We continue to focus on transactions and operational execution as well as technology advancement that accelerates growth and earnings, and we are pleased with the meaningful progress our team has made toward these goals.” A comprehensive discussion of Hank’s financial position and results of operations is provided in the financial statements and MD&A for the three and twelve month periods ending June 30, 2024, 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.
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