Mr. Troy Wright reports

LENDIFIED ANNOUNCES APPOINTMENT OF CHIEF FINANCIAL OFFICER, PRIVATE PLACEMENT FINANCING

Lendified Holdings Inc. (formerly Hampton Bay Capital Inc.) has appointed Pratik Bhandari, CPA, CA, as chief financial officer. Mr. Bhandari is the former comptroller of the company. He is a graduate of the master of accounting and bachelor of accounting and financial management programs from the University of Waterloo. He has related experience with PricewaterhouseCoopers LLP as a senior associate, and industry experience with PepsiCo and Barrick Gold. He has also worked with the Ontario Ministry of Finance and the Canada Revenue Agency.

Also, further to the company's press release of June 25, 2020, it intends to offer for sale, on a non-brokered private placement basis, securities of the company consisting of units at a price of 1.5 cents per unit, with each unit comprising one common share of the company and one share purchase warrant with each warrant being exercisable to acquire one share at a price of five cents per share for a period of 36 months following the closing date of the offering, for aggregate gross proceeds to Lendified of up to $1,427,318. Assuming the maximum proceeds are raised, the company will issue 95,154,575 shares and 95,154,575 warrants pursuant to the offering. There can be no assurances that the offering will be successful or if sufficient proceeds of the offering will be raised for the purposes set out herein. The offering is subject to the receipt of TSX Venture Exchange approval and all regulatory approvals.

The company is relying on the temporary relief measures announced by the TSX-V on April 8, 2020, in offering the units at a price that is less than five cents per share. Pursuant to the temporary relief, the issuer will not issue more than 100 per cent of the issued and outstanding shares pursuant to the offering. All securities issued under the temporary relief will be subject to a TSX-V hold period in addition to the restricted period under applicable securities laws and will be legended accordingly. The proceeds of the offering will not primarily be used to pay management fees or for investor relations activities.

The proceeds derived from the offering will be used for payment of certain expenses of the company, including employee payrolls, trade payables, general office and administration expenses, and professional fees.

There can be no assurances that the offering will be completed on the terms set out herein, or at all, or that the proceeds of the offering will be sufficient for the purposes of the company or its turnaround efforts.

Subject to the approval of the TSX-V, it is anticipated that the closing of the offering will occur as soon as possible and on or prior to July 10, 2020.

About Lendified Holdings Inc.

Lendified, a company located in Ontario, is a leading Canadian financial technology company operating both a lending platform that provides working capital loans to small businesses across Canada through its wholly owned subsidiary, Lendified Inc., as well as a software-as-a-service technology platform providing artificial-intelligence-enabled credit origination and analytics to financial institutions across Canada through its wholly owned subsidiary, JUDI.AI.

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