Lendified Reports First Quarter Results and Option and RSU Grant Proposal

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Toronto, Ontario--(Newsfile Corp. - May 27, 2022) - Lendified Holdings Inc. (TSXV: LHI) ("Lendified" or the "Company") is pleased to announce its financial results for the first quarter ended March 31, 2022. The Company's interim financial statements for the three months ended March 31, 2022 and the related management discussion and analysis can be found under the Company's profile on www.sedar.com.

First Quarter 2022 Highlights:

  • During the quarter ended March 31, 2022, the Company originated $0.53 million in loans.

  • The Company adopted an omnibus equity incentive plan providing for the grant of stock options and restricted share units (RSUs) of the Company as approved at the Company's Annual General Meeting (AGM) held on December 1, 2021.

  • The Company received approval to commence trading on the OTC Pink Market in the United States under the symbol "LFHIF". Lendified will continue to trade on the TSX Venture Exchange under its existing symbol "LHI". The Company intends to pursue additional steps to enhance its visibility and increase the liquidity of its shares in the U.S. market.

Option and RSU Grant Proposal

The Company is pleased to announce the approval of a proposal to grant stock options ("Options") and restricted share units ("RSUs") to certain board members, officers, and employees of the Company. The proposal provides for the granting of 14,500,000 RSUs vesting one year from the grant date and 1,750,000 options exercisable at a price of $0.05 per common share for a period of five years. This grant is subject to the approval of the TSX Venture Exchange (the "TSXV")."

ABOUT LENDIFIED HOLDINGS INC.

Lendified, a company located in Ontario, Canada, is a Canadian company operating a lending platform which provides working capital loans to small and medium-sized businesses across Canada.

Further Information

For further information regarding Lendified, please contact:

Eoghan Bergin, Chief Executive Officer and Director
1-844-451-3594
eoghan.bergin@lendified.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.

This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "continue", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements, including but not limited to, the impacts of general economic conditions, the COVID-19 pandemic and industry conditions. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125675

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