/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Jan. 4, 2022 /CNW/ - TIMIA Capital
Corporation ("TIMIA" or the "Company") (TSXV:TCA)
(OTCQB:TIMCF), a leading innovator of technology in private
credit, is pleased to announce that further to its news release of
December 13, 2021, it has increased
the non-brokered private placement of 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")
to $2,400,000.
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.
The Company is closing the first tranche of the private
placement having collected subscription agreements totalling
$2,188,750, and is proceeding with
the issuance of 6,253,571 Units at a price of $0.35 per Unit. The Company has
received a lead order from an institutional asset manager and
anticipates closing this balance of the private placement in the
coming weeks.
Finder's fees of $35,000 were paid
on a portion of the private placement to parties at arm's length to
the Company. In addition, 99,000 non-transferable finder's warrants
were issued (the "Finder's Warrants"). Each Finder's Warrant
entitles a finder to purchase one common share at a price of
$0.50 per share for two years from
the date of issue. The Finder's Warrants are also subject to the
above accelerated exercise provisions. All Shares issued under the
Private Placement are 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 technology development, debt repayment, and the future
growth of the Company and its investments. 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.