TORONTO, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Hampton Financial Corporation ("Hampton" or the "Company", TSXV:HFC & HFC.PR.A) is re-issuing this press release solely to correct inadvertent typographical errors. The corrected press release reads in its entirety as follows:

Hampton Financial Corporation Announces 3rd Quarter Results

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, July 31^st, 2023: Hampton Financial Corporation ("Hampton" or the "Company", TSXV:HFC & HFC.PR.A) today announced its financial results for the 3rd quarter ended May 31^st, 2023.

"The third quarter results are consistent with Q2 results amidst continued pressures on Revenues and Earnings across the industry that began in the fall of 2022 and continues well into calendar 2023. Capital Markets activity continues to be weak amidst rising rates and economic and political uncertainty, but we are seeing signs of an initial recovery that should be reflected in coming quarters. Q4 is seeing significant improvements in operating trends," said Hampton Executive Chairman & CEO Peter Deeb.

Third Quarter fiscal highlights:

Third Quarter ended May 31^st, 2023;

• Q3 Revenues of $2,180,000; a decrease of 58% year-over-year
• Q3 Net Losses of $(1,023,000) or $(0.03) per share ($(0.02) – diluted);
• Q3 EBITDA of $(750,000) vs $671,000 in the comparative quarter last year
  

Summary of Corporate Developments:

Our 3^rd Quarter results saw Revenues decrease over the 2^nd Quarter by 21.6%. However, by the end of the 3^rd Quarter and into Q4, Wealth Management has been showing a promising improvement and continuing to perform with improving fundamentals over our 2^nd and 3^rd Quarters. Our Capital Markets business began showing signs of improvement in Q3 and into Q4, as we are seeing a renewed buildup of potential deal-flow.

The Company, through its wholly owned subsidiary, Hampton Securities Limited ("HSL") continues to develop its Wealth Management, Advisory Team and Principal-Agent programs which offers the industry's most experienced wealth managers a unique and flexible operating platform that provides additional freedom, financial support, and tax effectiveness as they build and manage their professional practice. Our Corporate Finance Group provides early stage, growing companies the capital, they need to create value for investors. Our Treasury Group works to maximize returns from our balance sheet and strengthen our competitive position as one of Canada's leading independent financial institutions.

Copies of Hampton's unaudited interim financial statements and its Management's Discussion & Analysis for the three & nine months ended May 31^st, 2023 can be accessed on SEDAR at .

About Hampton Financial Corporation

Hampton is a unique private equity firm that seeks to build shareholder value through long-term strategic investments. Through HSL, Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by IIROC and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario, and Quebec. In addition, the Company provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad. The company is also exploring opportunities to diversify its sources of revenue by way of strategic investments in both complimentary business and non-core sectors that can leverage the expertise of its Board and the diverse experience of its management team.

For more information, please contact:

Olga Juravlev
Chief Financial Officer
Hampton Financial Corporation
(416) 862-8701

Or

Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
(416) 862-8651

The TSXV has in no way approved nor disapproved the contents of this press release. 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 press release.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.