~Fintech platform has set a new quarterly
record by disbursing $8.4 million of
non-
dilutive investments in the third quarter of fiscal 2021~
VANCOUVER, BC, Sept. 8, 2021 /CNW/ - TIMIA Capital
Corporation ("TIMIA" or the "Company") (TSXV: TCA) (OTCQB:
TIMCF) today announces that it has originated five new
investment facilities in the third quarter of 2021 for an aggregate
value of approximately $13 million. The Company has
disbursed an initial $6.7 million
under these new facilities and a further $1.7 million under two existing facilities
previously announced, bringing the total amount disbursed under new
and existing facilities to $8.4
million in the third quarter of 2021.
These disbursements represent a new quarterly record for TIMIA
as the Company builds its presence across North America and post-covid expansion
continues.
The five new investment facilities announced today include
additional disbursements of up to $6.3
million subject to certain milestones being met over the
term of the agreement. The source of non-dilutive capital for the
five new investment facilities is primarily from the Company's
Limited Partnership II ("LP II").
"During our fiscal third quarter, the TIMIA team achieved a new
quarterly record for putting our capital to work meaning we have
put over $16 million to work
during the first three quarters of fiscal 2021," said Mike Walkinshaw, CEO of TIMIA. "Due to the
success of our loan origination platform, TIMIA's brand awareness
is growing within the SaaS sector and we are getting a steady
stream of loan applications each month. Not all are worthy,
but those successful companies will be funded through monies
received from recent exits and our limited partnership
structure."
TIMIA has originated nine investment facilities for $27 million during the three quarters ending
August 31, 2021, also a new
record.
In addition, the Company is pleased to report pursuant to the
Normal Course Issuer Bid announced February
24, 2021 for the purchase of up to 3.3 million common
shares, it has cancelled 443,500 commons shares purchased
through the facilities of the TSX Venture Exchange and alternative
trading systems at a weighted average price of $0.24 for a total consideration of $106,840.
TIMIA has developed a proprietary, scalable, technology-driven
fintech platform to originate investments and earn higher
risk-adjusted returns. The Company is driving growth by
identifying revenue producing SaaS growth companies for investment
by TIMIA's LP II through non-dilutive investment facilities.
TIMIA invites growing SaaS companies, seeking
innovative and non-dilutive financing, to register through the
TIMIA fintech platform. Under a revenue-based origination model,
TIMIA matches non-dilutive capital to SaaS businesses with
recurring revenue streams, allowing the company to make monthly
payments, made up of a combination of principal and interest, with
a repayment schedule sculpted to its revenue streams. The amounts
advanced are secured and may be repaid early.
About TIMIA Capital Corporation
TIMIA Capital
Corporation has developed a proprietary loan origination platform
that services private market, high-yield loan opportunities,
thereby earning recurring fees and a share of the profit.
While focusing on the fast growing, global, business-to-business
Software-as-a-Service (or SaaS) segment, TIMIA's automated loan
origination system is applicable to multiple technology sectors, it
creates scalable and profitable growth for TIMIA's stakeholders.
For more information about TIMIA Capital Corporation, please visit
www.timiacapital.com
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.
Forward-Looking Information
Certain information and statements in this news release contain
and constitute forward-looking information or forward-looking
statements as defined under applicable securities laws
(collectively, "forward-looking statements"). Forward-looking
statements normally contain words like 'believe', 'expect',
'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may',
'will', 'should', 'ongoing' and similar expressions, and within
this news release include any statements (express or implied)
respecting making further disbursements upon the completion of
certain milestones, future value creation for shareholders, and the
growth of the company's investment portfolio . Forward-looking
statements are not guarantees of future performance, actions, or
developments and are based on expectations, assumptions and other
factors that management currently believes are relevant, reasonable
and appropriate in the circumstances, including, without
limitation, the following assumptions: that the Company and its
investee companies are able to meet their respective future
objectives and priorities, assumptions concerning general economic
growth and the absence of unforeseen changes in the legislative and
regulatory framework for the Company. Although management believes
that the forward-looking statements are reasonable, actual results
could be substantially different due to the risks and uncertainties
associated with and inherent to Timia's business. Material risks
and uncertainties applicable to the forward-looking statements set
out herein include, but are not limited to, the Company having
insufficient financial resources to achieve its objectives;
availability of further investments that are appropriate for the
Company on terms that it finds acceptable or at all; successful
completion of exits from investments on terms that constitute a
gain when no such exits are currently anticipated; intense
competition in all aspects of business; reliance on limited
management resources; general economic risks; new laws and
regulations and risk of litigation. Although Timia has attempted to
identify factors that may cause actual actions, events or results
to differ materially from those disclosed in the forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, predicted, estimated or
intended. Also, many of the factors are beyond the control of
Timia. Accordingly, readers should not place undue reliance on
forward-looking statements. Timia undertakes no obligation to
reissue or update any forward-looking statements as a result of new
information or events after the date hereof except as may be
required by law. All forward-looking statements contained in this
news release are qualified by this cautionary statement.
SOURCE TIMIA Capital Corp.