Hank Payments Announces Changes to Its Board of Directors

Toronto, Ontario–(Newsfile Corp. – June 17, 2024) – Hank Payments Corp. (TSXV: HANK) (“Hank” or the “Company”), 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 the appointment of Jason Sawyer as director of the Company.

Mr. Sawyer has spent his entire career in capital markets, raising money for institutional funds and early stage companies, and has significant public company experience. Mr. Sawyer currently leads Caary Capital Ltd., an AAG sponsored fintech SaaS company for which he has led $25MM in investment. Mr. Sawyer through his partnerships has raised more than $5 billion for companies and alternative asset managers since inception. Mr. Sawyer has cultivated an important strategic network that will benefit Hank as it achieves its revenue and profit targets.

“We are very pleased to welcome Mr. Sawyer to our board of directors. His professional experience and successful track record will provide valuable support for the growth of Hank Payments and we look forward to working with him,” commented Michael Hilmer, Chairperson and CEO.

In connection with Mr. Sawyer’s appointment, the Company granted 150,000 incentive stock options and 100,000 restricted share units. These stock options will be exercisable at $0.10 per share, for a term of three years with all other terms in accordance with the Company’s Omnibus Equity Incentive Plan.

Concurrently Jennifer Fallon and Timothy Farley have stepped down as a Directors of the Company. The Board would like to thank Mrs. Fallon and Mr. Farley for their contributions to the Company and it wishes them success in their future projects.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213397