Investor Relations

Jason Ewart

Director and Executive Vice President, Capital Markets

Resources

Press Releases

Read more about how Hank Payments is making consumers financially well and improving their probability of making bill and loan payments on time while helping them pay their loans off faster.
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.
October 3, 2024
Toronto, Ontario, October 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 that it will conduct a non-brokered private placement offering (the “Offering”) of up to 1,000 units (“Units”) at $1,000 per Unit for gross proceeds of up to $1,000,000. Each Unit consists of one $1,000 secured convertible debenture (“Debentures”) and 10,000 common share purchase warrants (“Warrant”). 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 Debentures mature three years from the date of issue (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) 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. 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. 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 announces that it will amend certain terms of its existing outstanding $2,544,000 convertible debentures (each, an “Existing Debenture”), for a thirty (30) day period (the “Debenture Amendment”), in connection with the private placements of debenture units consisting of $1,000 principal amount of 10% Existing Debentures on December 15, 2022, April 13, 2023, June 15, 2023 and January 30, 2024. Hank also intends to settle up to $200,732.05 of interest owing in connection with the Existing Debentures by issuance of up to 4,014,641 common shares of Hank. The Debenture Amendment remains subject to TSX Venture Exchange acceptance of regulatory filings. Prior to the Debenture Amendment taking effect, the Existing Debentures are convertible into common shares of the Company (each, a “Debenture Share”) at a price of $0.10 per Debenture Share. Commencing on October 2, 2024 and ending on November 2, 2024 (the “Inducement Period”), the conversion price of the Existing Debentures will be amended from $0.10 per Debenture Share to $0.05 per Debenture Share. After the expiry of the Inducement Period, the conversion price of the Existing Debentures will revert to $0.10 per Debenture Share. 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.
September 2, 2024
Toronto, Ontario, August 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 wishes to provide additional commentary on the announcement of its entering into a non-binding letter of intent dated August 19, 2024 (“LOI”), for the acquisition of 100% of the shares of a private technology company (the “Target”). Transaction Terms: As previously announced, the material terms and conditions outlined in the LOI are non-binding on the parties and the LOI is, among other things, conditional on the execution of a definitive share purchase agreement (the "Definitive Agreement") to be negotiated between the parties. The Target is pre-revenue with meaningful investment in intellectual property that affords consumers and brands, like lenders, to be matched based on time-based needs that enable consumers to receive offers that may improve their financial lives. The Target has spent $250,000 in R&D expenses in the past year and owes $1.0 million in liabilities to its parent. As is common with technology companies, the Target has not capitalised any material assets as it has developed its platform, while creating valuable intellectual property which aligns with typical SAAS companies being light on assets but high on technology value given the recurring cash streams they generate. The Target has preferred pricing, service levels and long-term licensing agreements that will transfer with the sale that affords Hank and consumers the ability to securely store and access key personal documents related to their financial lives, including agreements with Hank, investment statements, loan documents and any other important documents that need to be easily accessible, searchable and actionable by the consumer. These licenses, underpinned by best-in-class content search and data correlation and bank level data encryption and security, have material value and the Company will, as part of the conclusion of the transaction, confirm it’s estimates of value through an independent valuation. In connection with the proposed transaction, it is currently contemplated that all the issued and outstanding shares of the Target will be acquired by the Company. Key terms of the transaction are as follows: 1) as consideration for the shares purchased, Hank will issue to the shareholders of the Target, that number of common shares of Hank which equates to a total equity value for the Target of approximately Cdn$7.2 million, not to exceed 49.9% of Hank shares outstanding at the closing of the transaction; 2) the majority of the consideration shares of Hank will be issued to or immediately distributed or transferred to the shareholders of the Target such that, no one new shareholder or related entity will own directly or indirectly 10% of Hank post completion of the transaction; 3) the consideration shares will have a contractually imposed escrow and release schedule currently being finalized and subject to regulatory approval prior to closing; 4) the Company will accelerate the redemption date of 4,470,000 of its currently issued and outstanding Restricted Share Units subject to guidelines the TSX Venture Exchange; 5) a minimum of $3.94 MM of Hank’s liabilities, excluding working capital is to be settled prior to the closing of the transaction, which the Company expects to settle through issuance of common shares; 6) the Target will provide a non-interest bearing loan in the amount of $250,000 to the Company in the form of an unsecured promissory note that is repayable on the earlier of 6 months from the advance date or the closing of the transaction, in which the loan will settle into the consolidated Company; 7) Hank will assume the Target’s sole liability of $1 million owed to its parent, which will be repaid over 5 years at $16,667 per month without accruing any interest. At any time up to 12 months following closing, Hank can prepay $750,000 on top of what will have been paid monthly to date to retire this obligation; 8) advisory fees up to $1.425 million will be paid in shares of Hank expected to be 28.5 million shares issued to the advisor; and 9) Post the settlement of liabilities at current share price of $0.05, and assuming trading at current prices ($.05-$.06 per share), Hank expects to have a market capitalisation in the range of $7.1 and $7.6 million and will be issuing shares worth up to $7.2 million for the acquisition. Completion of the Transaction is subject to a number of conditions, including, but not limited to, receipt of applicable regulatory approvals, completion of satisfactory due diligence including independent valuation, and the execution of the Definitive Agreement and related commercial agreements. The potential transaction is not expected to be a Fundamental Transaction under the policies of the TSX Venture Exchange. 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.
June 18, 2024
Toronto, Ontario, June 18, 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 further expansion of its US auto dealership originator base. The Company has signed and commenced the launch of a 31 auto store proof of concept program with a large auto dealer group with locations in 8 states. Since engaging, 2 stores have launched their offering of the Hank Payments platform to consumers and with the success of the proof of concept and all stores originating, the partner will represent over 10% growth from the 238 stores announced in April. Given the size of these stores, the contribution to new account originations could exceed 25%, once all stores are online, bringing total dealers to 269 with 57 added in 2024 alone. The partner is driving the roll-out schedule at this time. “We are very pleased that our profitable auto business continues to outperform our expectations by a significant margin so early in the calendar year. Growth from this channel is predictable, profitable and scalable and as the roll out of the new stores continues, growth from the Auto Channel will contribute improved cash flow through calendar year end and allow us to commence calendar 2025 ahead of our expected base of recurring automotive channel revenue.” commented Michael Hilmer, Chairperson and CEO. 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.
May 31, 2024
May 31, 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) Hank Payments announces their quarterly results and highlights for the quarter ending March 31, 2024. Link to the interview is below: https://stockhouse.com/video/thewatchlist/t4fwwM2I 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.
May 31, 2024
Toronto, Ontario, May 31, 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 third quarter financial results for the period ending March 31, 2024. All figures are in CAD. FINANCIAL HIGHLIGHTS FOR FISCAL Q3, 2024 Revenue for the quarter of $1.9 mm, an increase of 31% over the March 2023 quarter; Revenue for the nine-month period ending March 31, 2024, grew 20% year over year to $5.4 mm; Gross margins remain strong at 91%; Short term expansion of adjusted loss from operations to accommodate new product and business development. This is expected to materially reduce in the following quarters as the Company benefits from growth in Auto and related margin, and lower operating costs. Consistent with previous quarter, Hank continued to experience strong revenues for the quarter ending March 31, 2024. The recent growth in revenue is primarily due to the Company beginning to recognize revenue from its Canadian licensing agreement starting in the first quarter of fiscal 2024. The licensing agreement has an initial term of three years with opportunity to both increase the revenue over time as well as renew and lengthen the term of the agreement. This agreement is expected to deliver minimum revenues of approximately $500,000 per quarter through first quarter of fiscal 2028. Overall operating expenses increased by 7% this quarter in comparison to the previous quarter and increased by 26% in comparison to the same quarter the previous year primarily due to the investment in sales and marketing related to the Hank EDU platform and preparation and design work for the Equity Builder Product. With additional schools joining the Hank EDU platform, increasing revenues are expected to offset the increase in costs in the coming quarters and with the recently announced Hank Equity Builder partnership, the Company expects to earn back its investment in product development as those two channels scale. The Company continues to prudently monitor expenses while supporting its revenue growth in the auto and EDU channels and now the Equity Builder Product. YEAR TO DATE BUSINESS HIGHLIGHTS AND UPDATES In early March, the Company entered into a strategic partnership with a NASDAQ listed fintech bank to offer enhanced consumer lending and savings program and payments services (link to press release: https://www.nasdaq.com/press-release/hank-payments-and-finwise-bank-enter-into-strategic-partnership-to-offer-enhanced ); Migration progress with FinWise Bank continues and expected to be completed in the third quarter which will help diversify Hank’s deposit composition and over time reduce the cost of funds through relationship banking and add new revenue line items; Auto channel customer growth of 32% year over year as of May 1 st and 26 new auto dealers have signed up with Hank so far in 2024; Over 238 active auto dealers in the US are now using the Hank platform to make warranty and insurance products more affordable, and to improve the build-up of vehicle equity for their customers; Total auto loan balance reductions, facilitated by Hank Auto on behalf of consumers are up 11.5% year over year to over $77,000,000; College agreements in the states of Texas, Oklahoma and South Carolina for the Hank EDU payments platform are now processing on a monthly basis; Hank EDU has disbursed over $900,000 USD to over 1100 college students since launching its EDU payment platform for the education market in late 2023; Several colleges are completing their integration phase and launching in the coming months; In May, the Company signed a strategic 5 year licensing agreement for the Hank Equity Builder product with HELO. HELO has the conditional exclusive right to resell Equity Builder and the Helo customizations in the US during the term provided that they deliver a minimum annual net subscriber growth of at least 30,000 new paying users annually (link to press release: https://www.newsfilecorp.com/release/211110 ). Michael Hilmer, CEO and Chairperson commented “We continued to diversify our revenue streams with innovative products that are quickly adopted in their target markets with new deals while our Auto business thrives. He added “The Company is prioritizing positive cash flow and EBITDA from operations and is focused on growth of high margin revenue while managing a relatively low operating cost model, relative to the growth opportunities available. We are nearing the period where our margin expansion drives full coverage of operating costs and all new business, as and when launched, will become accretive to the bottom line leading to near-term positive operating income as planned.” A comprehensive discussion of Hank’s financial position and results of operations is provided in the financial statements and MD&A for the nine-month period ending March 31, 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.
May 31, 2024
May 30, 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 ) Hank Payments announces strategic licensing and reseller agreement for Hank Equity Builder Product. Link to the interview is below: https://stockhouse.com/video/thewatchlist/zAeLX1sa 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.
May 30, 2024
Toronto, Ontario, May 30, 202 4 - 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 a strategic licensing Agreement for the Hank Equity Builder product with Helo. Hank Equity Builder is a unique, consumer budget, cash management and savings enablement platform. It empowers consumers with goal setting and cash management automation modules to make it easier to pay off debt and save for longer-term retirement goals. Helo, powered by Nightingale Wealth Solutions, a well-established financial advisory firm, has extensive experience in providing financial advice, retirement planning, goal setting and goal management for consumers, with intricate knowledge of the complex tax and product strategies required to help Americans retire comfortably. Helo as well as members of the Nightingale Wealth Solutions team are providing their financial advisory, planning and wellness expertise in the design of Equity Builder, which will be brought to market in the US branded as “Helo” through the Helo Channel. The Helo product, powered by the Hank BaaS platform, will be offered to enterprise clients as a benefit for their employees as well as direct to consumers as an automated cash management, retirement planning and goal execution solution, as a subscription service. Highlights of the Agreement: Five-year term with prescribed minimum, paying subscribers, evergreening upon achievement of 140,000 paying subscribers; Helo has the exclusive right to resell Equity Builder and the Helo customizations in the US during the term provided that they deliver a minimum annual net subscriber growth of at least 30,000 new paying users annually; Both parties will share in subscription revenues approximately 50/50; At 100,000 users, and assuming an average subscription cost of $30/month, Hank would earn USD$18 million in annual recurring revenue; Helo will invest USD$500,000 into Hank; Helo is responsible for branding, promotion, selling, marketing, enterprise account management, customer acquisition costs and distribution to prospective users and enterprise clients. Hank provides the banking-as-a-service platform with banking, regulatory, R&D, Helo customizations, integrations and software as a service; The Helo Sandbox will be launched in 2024 with the full version of the Helo product coming to market early in 2025. "Helo started at the ground floor with us in developing the Hank Equity Builder product and today’s announcement formalizes our partnership and commitment to help prepare Helo users for retirement by managing their cash flow, financial plans and other aspects of wealth management, " said Michael Hilmer, Chairperson and CEO of Hank Payments. He added “Our partnership with Helo reflects our commitment to diversifying Hank revenue streams and expanding our delivery of value across different market segments with trusted experts and partners from those markets.” Ariel Dangelo, founder of Helo, commented “Hank’s platform is powerful and will help our clients accelerate equity growth by automating debt reduction and saving for short and long-term goals, which will help us to better serve our clients once our Helo customizations are integrated and launched. Hank is the ideal partner for us given their platform’s history, and proven results in delivering benefits for consumers.” She added “We expect to achieve 50,000 users by late 2025, with USD$18 million in recurring annual revenue to be shared equally with Hank, and then doubling to 100,000 users in 2026. Together, and with our expertise and passion for financial wellness we are confident in our ability to profitably scale and serve hundreds of thousands of Americans over the coming years.” About Nightingale Wealth Solutions and Helo Nightingale Wealth Solutions is a distinguished woman-owned independent wealth management firm located in Westwood, MA. With a commitment to delivering unparalleled financial expertise, they specialize in a comprehensive range of services including financial planning, wealth management, insurance/risk management, college planning, generational wealth transfer, legacy planning, real estate portfolio exit strategies, and tax-advantaged strategies. With decades of experience, they provide clients with tailored strategies to secure their financial futures. Their dedication to excellence, combined with a passion for personalized service, sets Nightingale Wealth Solutions apart as a trusted partner in achieving financial success and security. https://nwsadvisors.com/ . Helo consumer and enterprise platforms are being launched with the expertise of Nightingale, making financial management and advisory services much more accessible for Americans. 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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