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Hank Payments Corp
Symbol HANK
Shares Issued 132,720,338
Close 2025-03-06 C$ 0.025
Market Cap C$ 3,318,008
Recent Sedar Documents

Hank Payments arranges $4-million private placement

2025-03-06 17:31 ET - News Release

Mr. Jason Ewart reports

HANK PAYMENTS ANNOUNCES PROPOSED FINANCING

Hank Payments Corp. will conduct a non-brokered private placement offering of up to 200 million units at a purchase price of two cents per unit, for aggregate gross proceeds of up to $4-million. Each unit consists of one common share and one-half of one warrant. Each whole warrant is exercisable to acquire one common share at a price of five cents until June 30, 2027, unless the term of the warrant is accelerated pursuant to its terms.

Net proceeds of the offering will be used for general working capital and growth initiatives, including potential acquisitions. The offering is subject to TSX Venture Exchange acceptance of regulatory filings. The company may pay to eligible persons a cash finder's fee equal to 7.5 per cent of the gross proceeds from the units placed by the finders and issue finder unit warrants equal to 7.5 per cent of the aggregate number of units sold under the offering attributable to the finders. Each finder's unit warrant shall be exercisable to acquire one unit of the company until March 30, 2027.

About Hank Payments Corp.

Hank Payments is a North American leader in consumer fintech software-as-a-service and banking-as-a-service 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 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 increase assets using Hank. The company operates exclusively across the United States, 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/set-up fees and recurring monthly fees based on the types and quantity of payments that Hank Payments administers for the consumer. The company acquires users through various channels, including: (i) small- to medium-sized enterprises; and (ii) large enterprise businesses. The company's BaaS model is emerging, which is expected to add additional fees, including software licensing and usage fees.

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