Mr. Troy Wright reports

LENDIFIED ANNOUNCES CLOSING OF PRIVATE PLACEMENT AND RELIANCE ON TEMPORARY RELIEF MEASURES OF CONTINUOUS DISCLOSURE FILINGS

Lendified Holdings Inc. (formerly Hampton Bay Capital Inc.) has completed the second and final tranche of its previously announced private placement offering of units of the company consisting of nine million units at a price of 1.5 cents per unit for proceeds of $135,000, bringing the total size of the offering to 63,738,064 units for aggregate gross proceeds of $956,071. Each unit is composed of one common share in the capital of the company and one common share purchase warrant exercisable at five cents per share for a period of three years.

The securities of the company are subject to a failure-to-file cease trade order (FFCTO) issued by the Ontario Securities Commission (OSC) on July 9, 2020. The final tranche closing of the offering was effected pursuant to a partial revocation order of the OSC issued Aug. 14, 2020, as announced by the company in its press release of Aug. 17, 2020. The securities of the company will remain subject to the FFCTO until such order is fully revoked, and the granting of the partial revocation order by the OSC does not guarantee the issuance of a full revocation order in the future. The proceeds derived from the sale of the units will be used for payment of certain expenses of the company associated with bringing the public record into compliance, including employee payrolls, trade payables, general office and administration expenses, and professional fees.

All of the securities issuable in connection with the offering are subject to a hold period expiring four months and one day after the date of issuance in accordance with TSX Venture Exchange rules and Canadian securities laws.

The offering is subject to the final approval of the TSX-V and to all regulatory approvals.

The company provides further update that it will rely on the temporary blanket relief granted by the Ontario Securities Commission in connection with the COVID-19 pandemic in Ontario Instrument 51-505 (Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to Aug. 31, 2020) and similar exemptions provided by the other Canadian securities regulators due to logistics and delays caused by the COVID-19 pandemic.

The company is relying on the exemption provided in Ontario Instrument 51-505 (and similar exemptions provided by other Canadian securities regulators) in respect of the following requirements for the company as it does not expect to file the following disclosure documents by the Aug. 31, 2020, deadline:

• The requirement to file the company's interim financial statements for the six months ended June 30, 2020, within 60 days after the end of the interim period as required by National Instrument 51-102 (Continuous Disclosure Obligations);
• The requirement to file the company's management's discussion and analysis for the period covered by the interim financial statements within 60 days after the end of the interim period as required by NI 51-102;
• The requirement to file certifications of the interim financial statements pursuant to National Instrument 52-109 (Certification of Disclosure in Issuers' Annual and Interim Filings).

The company expects to complete the interim filings on or before Sept. 30, 2020. Until such time as the interim filings are filed, the company's management and other insiders are subject to a trading blackout that reflects the principles contained in Section 9 of National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions). The company confirms there have been no material business developments since the date of the company's interim financial statements for the three months ended March 31, 2020, except as otherwise disclosed in this press release or previous press releases filed by the company on its SEDAR profile, which include the issuance of the Partial revocation order as disclosed in the press release dated Aug. 17, 2020, the closing of the first tranche of the offering as disclosed in the press release dated Aug. 21, 2020, and the closing of the second tranche of the offering as disclosed herein.

About Lendified Holdings Inc.

Lendified, a company located in Ontario, Canada, is a Canadian fintech company operating both a lending platform which provides working capital loans to small businesses across Canada through a wholly owned subsidiary and a software-as-a-service technology platform providing artificial-intelligence-enabled credit origination and analytics to financial institutions across Canada through another wholly owned subsidiary, JUDI.AI. The company announced its intention to sell JUDI.AI in its press release of July 7, 2020.

We seek Safe Harbor.