TIMIA Capital Announces Private Placement of Preferred Shares
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, March 25, 2021 /CNW/ - TIMIA Capital Corporation ("TIMIA" or the "Company") (TSXV: TCA) (OTCQB: TIMCF) is pleased to announce a non-brokered private placement of up to 1,000,000 series A preferred shares (the "Preferred Shares") at a price of $1.00 per Preferred Share for proceeds of up to $1,000,000 (the "Private Placement"). Closing of the Private Placement is subject to TSX Venture Exchange approval and is expected to occur during the week of March 29, 2021. The Preferred Shares trade on the The TSX Venture Exchange under the symbol TCA.PR.A.
No finder's fees are anticipated to be paid in connection with the Private Placement. All Preferred Shares issued under the Private Placement will be subject to a statutory hold period of 4 months from the date of issuance.
The Company anticipates using the proceeds of the Offering to redeem issued and outstanding nonconvertible debentures and for general corporate purposes. For more information, potential investors should contact the Company or review the Company's disclosure and related SEDAR profile at www.sedar.com.
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
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 completion of the Private Placement. 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.
Darren Seed, Vice President, Capital Markets & Communications, Mike Walkinshaw, CEO, TIMIA Capital Corporation, (604) 398-8839, [email protected]
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