TIMIA Capital Originates $13 Million in Investment Facilities for Five Growing Software Companies in the Third Quarter of 2021
~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.
Darren Seed, Vice President, Capital Markets & Communications, Mike Walkinshaw, CEO, TIMIA Capital Corporation, (604) 398-8839, [email protected]
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