VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 29, 2016) – TIMIA Capital Corp. (“TIMIA” or the “Company”) (TSX VENTURE:TCA) is pleased to announce an offering of up to $1,000,000 in new debentures (the “Debentures”) to accredited investors to fund upcoming investments.
The Debentures will be unsecured, will pay 8% annual interest with monthly payments, and will mature five years from the date of issuance with an option for early redemption by the Company after 3 years. The Debentures are issued with 50% warrant coverage (“the Warrants”) on the common shares of the Company. The Warrants will have a 5 year term with a strike price of $0.20. The Debentures, the Warrants, and any common shares issuable upon exercise thereof, will be subject to a four-month hold period in accordance with applicable securities laws. The offering is subject to the approval of the TSX Venture Exchange.
TIMIA looks forward to expanding its current portfolio of Revenue Financing investments over the next 3 months and the proceeds of this offering will be used to make these investments.
Revenue Financing is attractive to companies that are not yet qualified for traditional bank debt but do not want to suffer the dilution and control issues associated with equity issuances. Revenue growth and high gross margins are key attributes required by applicants in order for the successful application of Revenue Financing.
Mike Walkinshaw, CEO of TIMIA, said “2016 has been a year of strong growth for TIMIA.” Mike added “We have established our model, built our brand and back office systems, and look forward to significant expansion of our portfolio into 2017.”
About TIMIA Capital Corp.
TIMIA Capital Corporation, is a specialty finance company that provides revenue financing to technology companies in exchange for a royalty stream on revenue. The alternative financing option complements both debt and equity financing, while allowing entrepreneurs to retain control of their business. TIMIA’s target market is the fast-growing growing business-to-business software-as-a-service (SaaS) segment. TIMIA is run by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring, compliance and workouts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.
Mike Walkinshaw
Chief Executive Officer
(604) 398-8839
info@timiacapital.com