Lendified Announces Receipt of Demand Letters and Notices of Enforcement of Security
Lendified Announces Receipt of Demand Letters and Notices of Enforcement of Security
Toronto, Ontario--(Newsfile Corp. - November 23, 2022) - Lendified Holdings Inc. (TSXV: LHI) (the "Company" or "Lendified") announced today that its wholly-owned subsidiaries, Lendified Privco Holding Corporation, Lendified Inc, Castle Return Inc. and WPCFP SPV Inc. (collectively, the "Subsidiaries"), have received demand letters of repayment (the "Demand Letters") dated November 22, 2022 and notices of intention to enforce a security (the "Notices") under section 244(1) of the Bankruptcy and Insolvency Act (Canada) (the "BIA") from certain secured creditors with respect to certain secured loans made to the Subsidiaries by such secured creditors. The total amount of the outstanding loans in default is approximately $6,631,120.20 (the "Loans"). As the Subsidiaries are not in a position to repay the Loans on demand, and do not have any prospects to refinance the Loans, the Company expects the secured creditors will move to seize the Subsidiaries assets comprising the security pursuant to the loan agreements giving rise to the security and applicable legislation. Such assets largely consist of loan portfolios.
安大略省多倫多-(Newsfile Corp.-2022年11月23日)-Lendified Holdings Inc.(多倫多證券交易所股票代碼：LHI)(The公司“或”列尼德化)今天宣佈，其全資子公司Lendifided Privco Holding Corporation、Lendified Inc.、Castle Return Inc.和WPCFP SPV Inc.(統稱為附屬公司)，已收到催繳還款通知書(索要通知書日期為2022年11月22日)和執行安全措施的意向通知(通告“)根據條例第244(1)條《破產與破產法案》(加拿大)(“BIA)就該等有擔保債權人向附屬公司作出的某些有擔保貸款而言，欠款總額約為6,631,120.20美元(“貸款由於附屬公司無法按需償還貸款，亦無任何為貸款再融資的前景，本公司預期有抵押債權人將根據產生抵押品的貸款協議及適用法例，扣押附屬公司包含抵押品的資產。該等資產主要包括貸款組合。
Consequently, in order to avoid any deterioration in the value of the assets subject to seizure by the secured creditors, it has consented to a waiver of the 10-day notice period provided in the BIA. It is not expected that the fair market value of the assets will be sufficient to repay the Loans and as a result, Lendified and the Subsidiaries will continue to be subject to certain obligations to the secured creditors pursuant to the Loans. It is expected that the secured creditors will attempt to sell the seized assets and the return from such sale will determine the remaining amount owed to such creditors.
因此，為了避免受有擔保債權人扣押的資產價值的任何惡化，它同意豁免《蒙特利爾議定書》規定的10天通知期。預期該等資產的公平市價將不足以償還貸款，因此，Lendified及其附屬公司將根據該等貸款繼續對有擔保債權人承擔若干債務。預計有擔保債權人將試圖出售被扣押的資產，出售資產的收益將確定欠這些債權人的剩餘金額。
As a result of the Demand Letters and the Notices, the Company will continue to administer any outstanding working capital loans it has extended to its clients but will halt writing any new business for the time being. The Board of Directors remains in place and is committed to steering the Company through these challenges; however, there can be no assurances it will be able to do so. It is not expected that the Company can continue as a going concern in its present form without an infusion of capital. There is significant doubt as to whether the Company will be able to source any such needed capital. The Company will engage in discussions with its creditors to determine if solutions can be found to enable the Company to carry on in some form in the future. There can be no assurances that such discussions will be successful, either on terms acceptable to the Company or at all. Investors are cautioned to consider carefully the Company's liquidity situation when considering trading in the Company's securities.
由於催繳通知書及通知的結果，本公司將繼續管理其已向客户發放的任何未償還營運資金貸款，但將暫時停止承銷任何新業務。董事會繼續留任，並致力於帶領公司度過這些挑戰；然而，不能保證它將能夠做到這一點。在沒有注資的情況下，預計本公司不能以目前的形式繼續經營下去。該公司是否有能力籌集到所需的任何資金，這是一個很大的疑問。公司將與債權人進行討論，以確定是否能找到解決方案，使公司能夠在未來以某種形式繼續經營。不能保證這樣的談判會成功，無論是以公司可以接受的條款還是完全可以接受的條款。敬請投資者在考慮買賣本公司的證券時，仔細考慮本公司的流動資金情況。
ABOUT LENDIFIED HOLDINGS INC.
關於LENDIFIED控股公司
Lendified, a company located in Ontario, Canada, is a Canadian FinTech company operating a lending platform which provides working capital loans to small businesses across Canada through a wholly-owned subsidiary.
藍迪菲德是一家位於加拿大安大略省的公司，是一家加拿大金融科技公司，經營着一個貸款平臺，通過一家全資子公司為加拿大各地的小企業提供營運資金貸款。
Further Information
進一步資料
For further information regarding Lendified, please contact:
欲瞭解更多有關Lendified的信息，請聯繫：
Eoghan Bergin, Chief Executive Officer and Director
1-844-451-3594
eoghan.bergin@lendified.com
董事首席執行官Eoghan Bergin
1-844-451-3594
郵箱：eoghan.bergin@lendified.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
TSXV及其監管服務提供商(該術語在TSXV的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
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", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including, but not limited to, the return (if any) the sale of the secured assets will bring to the creditors and whether the Company can successfully negotiate a solution to any additional debt owing to the secured creditors following the seizure of the assets, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. 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, other than as required by law.
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本新聞稿可能包含前瞻性陳述，這些陳述反映了公司目前對未來事件的預期。前瞻性陳述常常，但並非總是，通過使用諸如“尋求”、“預期”、“計劃”、“估計”、“預期”、“打算”等詞語，以及事件或結果“可能”、“將”、“應該”、“可能”或“可能”以及其他類似表述來確定。這些前瞻性陳述涉及風險和不確定因素，包括但不限於，出售有擔保資產將給債權人帶來的回報(如果有的話)，以及公司能否成功談判解決資產被扣押後欠有擔保債權人的任何額外債務，任何這些都可能導致結果、業績或成就與前瞻性陳述中討論或暗示的結果大不相同。許多風險是該公司參與的行業所固有的；其他風險則更多地是該公司特有的。有關與這些前瞻性陳述有關的風險和不確定因素的更多信息，請查閲公司正在提交的季度報告。投資者不應過度依賴任何前瞻性陳述。除法律要求外，管理層不承擔因新信息、進一步事件或其他原因而更新或改變任何前瞻性陳述的義務。
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