Omega Capital Partners Acquired Stake in Nextpoint Financial Inc.

NEW YORK, July 8, 2021 /CNW/ - Omega Capital Partners, LP ("Omega") is pleased to announce that on July 2, 2021, in connection with the completion of the qualifying acquisition of NextPoint Financial Inc. ("NextPoint") pursuant to which NextPoint concurrently acquired the target business of Franchise Group Intermediate L LLC and LoanMe, LLC (the "Qualifying Acquisition"),  Omega was issued 4,668 proportionate voting shares of NextPoint ("PVS"). In addition, 3,535,000 Class A Restricted Voting Shares of NextPoint acquired by Omega and its joint actors in connection with the private placement of non-voting shares of a wholly owned subsidiary of NextPoint at a price of US$10 per share were converted into an aggregate of 3,535,000 Common Shares (the "Conversion").

Upon completion of the Qualifying Acquisition and the Conversion, Omega and its joint actors owned or controlled an aggregate of 4,668 PVS (approximately 2.77% of the issued and outstanding PVS), 3,535,000 Common Shares (approximately 21.37% of the issued and outstanding Common Shares) and 500,000 common share purchase warrants ("Warrants") (collectively, representing approximately 13.48% of the voting interest of NextPoint on a partially diluted basis). The acquisition of the 4,668 PVS and 3,535,000 Common Shares represented an increase in Omega's securityholding percentage by 8.98%.

Immediately prior to completion of the Qualifying Acquisition, Omega and its joint actors owned or controlled 1,000,000 Common Shares and 500,000 Warrants representing approximately 7.50% of the issued and outstanding Common Shares (on a partially diluted basis). Upon completion of the Qualifying Acquisition and the Conversion, Omega and its joint actors owned or controlled an aggregate of 4,668 PVS, 4,535,000 Common Shares and 500,000 Warrants (representing approximately 16.48% of the issued and outstanding Common Shares on a partially diluted basis).

The Common Shares and PVS were acquired for investment purposes. Omega and its joint actors may, depending on market and other conditions, increase or decrease their beneficial ownership, control or direction over Common Shares or PVS through market transactions, private agreements, treasury issuances, exercise of option, convertible securities or otherwise.

Omega's head office is located at 810 Seventh Avenue, 33^rd Floor, New York, New York 10019. For further information please contact Darin R. Renton, Stikeman Elliott LLP, 5300 Commerce Court West 199 Bay Street Toronto, Ontario M5L 1B9, Tel: [phone]. NextPoint's head office is located at 500 Grapevine HWY, Suite 402, Hurst, Texas, 76054. NextPoint is listed on the Toronto Stock Exchange under the symbol "NPF".

SOURCE Omega Capital Partners, LP