Hampton Financial Corporation advised that it has closed the non-brokered private placement of debentures previously announced in the Company's news release of February 23, 2024. Hampton has issued debentures in the principal amount of $1,000,000, having a term of five years, bearing interest at the rate of 12% per annum and convertible at any time at the option of the holder into subordinate voting shares in the capital of the Company at the price of $0.60 per share. If the entire principal amount of the debentures is converted the Company will issue 1,666,667 subordinate voting shares.

The Company will have the option to prepay the principal amount of the debentures together with accrued interest at any time after 6 months following the date of issuance of the debentures. The proceeds from the private placement will be used for working capital and general corporate purposes.