Hampton Financial Corporation
TSX VENTURE : HFC

November 08, 2017 16:01 ET

Hampton Resolves Outstanding Litigation

TORONTO, ONTARIO--(Marketwired - Nov. 8, 2017) - Hampton Financial Corporation (TSX VENTURE:HFC), announces the settlement of an outstanding lawsuit initiated against a wholly owned subsidiary and certain affiliates. The initial claim was brought seeking $2,992,000 and the opportunity to reach a confidential settlement was deemed by the Board of HFC to be a desirable result and in the best interests of the Corporation.

"This action was viewed as without merit however we are pleased to have reached a settlement at a fraction of the claim and projected costs of a continued legal process, and without further management distraction. We expect no effects on our business for fiscal 2018 and beyond as a full provision for this settlement will be included in our August 31st, 2017 year-end financial statements," stated Mr. Peter Deeb, Executive Chairman and CEO.

Hampton Financial Corporation ("Hampton"), through its wholly-owned subsidiary, Hampton Securities Limited ("HSL"), 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. The subordinate voting shares, and preferred shares of Hampton are listed on the TSXV under the symbol "HFC" and "HFC.PR.A" respectively.

The TSX Venture Exchange ("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.

Contact Information

  • Joe Pavao
    President & Chief Operating Officer
    Hampton Financial Corporation
    Hampton Securities Limited
    (416) 862-7800