~NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES~
VANCOUVER, BC, Dec. 13, 2021 /CNW/ - TIMIA Capital
Corporation ("TIMIA" or the "Company") (TSXV: TCA) (OTCQB:
TIMCF), a leading innovator of technology in private credit,
is pleased to announce its intention to complete a non-brokered
private placement of up to 5,000,000 units of the Company (the
"Units") at a price of $0.35 per Unit
for gross proceeds of up to $1,750,000 (the "Private Placement"). The Company
has received a lead order from an institutional asset manager.
Each Unit consists of one common share in the capital of the
Company (a "Common Share") and one half of one Common Share
purchase warrant (each whole warrant, a "Warrant"). Each Warrant
will entitle the holder to purchase one Common Share of the Company
at a price of $0.50 for a period of
24 months following the closing date, provided that TIMIA may
accelerate the expiry date of the Warrants by providing 30 days'
notice to the holders by way of news release in the event that the
closing price of the Common Shares on the TSX Venture Exchange
equals or exceeds $1.00 per Common
Share for a period of 10 consecutive trading days.
Closing of the Private Placement is subject to TSX Venture
Exchange approval and is expected to occur during the week of
December 24, 2021. All Common Shares
and Warrants issued under the Private Placement will be subject to
a statutory hold period of 4 months from the date of issuance.
The proceeds of the Private Placement will be used by TIMIA, for
its own benefit to support its technology development, debt
repayment, and future growth.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
About TIMIA Capital Corporation
The Corporation
utilizes a proprietary loan origination platform to originate,
underwrite and service private-market, high-yield loan
opportunities through two operating divisions: TIMIA Capital which
offers revenue-based investment to fast growing,
business-to-business Software-as-a-Service (or SaaS) businesses in
North America, and Pivot Financial
which specializes in asset-based private credit targeting
mid-market borrowers in Canada.
The Corporation deploys funds on behalf of limited partnerships,
institutions, retail investors, high net worth individuals, its
management team and shareholders. For more information about TIMIA
and SaaS lending, please visit www.timiacapital.com. For more
information about specialized private credit and Pivot please
visit: www.pivotfinancial.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 completion of the Private Placement and the acceleration
of the expiry date of the Warrants. 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.