TIMIA Capital Originates $38 Million in Investment Facilities in the Past 12 Months

~TIMIA is successfully integrating its recent acquisition Pivot Financial and leveraging its origination platform for revenue-based and asset-based investment opportunities~

VANCOUVER, BC, Dec. 1, 2021 /CNW/ - TIMIA Capital Corporation ("TIMIA" or the "Company") (TSXV: TCA) (OTCQB: TIMCF), a leading innovator of technology in private credit, today provided an update on its consolidated loan book activity. On September 21, 2021, the Company acquired Pivot Financial Limited Partnership ("Pivot"), a Canadian-based private lender focused on creative financing solutions for the small and medium business market. 

For the period September 1, 2021 to November 30, 2021 including TIMIA and Pivot from the date of acquisition on September 21, 2021:

• $16 million was disbursed for both new term loans and follow-ons in existing term loans, representing a 130% increase in disbursements over same period last year for TIMIA alone,
• an additional $6 million increase in existing revolving lines of credit granted to customers,
• offset by $6 million in loan exits received from customers.

For the period December 1, 2020 to November 30, 2021 including TIMIA and Pivot from the date of acquisition on September 21, 2021:

• $32 million was disbursed for both new term loans and follow-ons in existing term loans, representing a 91% increase over same period last year for TIMIA alone,
• an additional $6 million increase in existing revolving lines of credit granted to customers,
• offset by $13 million in loan exits received from customers.

TIMIA also provided pro-forma combined loan book activity, including Pivot's activity for periods prior the acquisition for the January 1, 2021 to November 30, 2021 period¹ :

• $59 million disbursed for new term loans and follow-ons in existing term loans,
• an additional $26 million increase in existing revolving lines of credit granted to customers,
• offset by $15 million in loan exits received from customers.

                              

¹ See section entitled "Proforma Results" below

"As we work to automate Pivot Financial with TIMIA Capital's technology platform, we have experienced a significant increase in the scale of our business with the combined entity on a pro-forma basis issuing $85 million of term loans, revolving lines of credit, and follow-ons made over the past twelve months," said Mike Walkinshaw, CEO of TIMIA. "Our teams have been busy in the third and fourth quarters deploying capital at a record rate as our growth continues to accelerate. We look forward to applying our loan origination platform, which not only originates but also underwrites and manages investment deployment, to Pivot's loan book."   

Proforma Results
The combined pro-forma results presented herein are not necessarily indicative of future performance and are provided for information purposes only. Readers are cautioned not to place undue reliance on such proforma results, which take into account the financial performance of Pivot's business prior to the acquisition date.

NCIB
The Company reports, 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 an aggregate 1,273,500 commons shares purchased through the facilities of the TSX Venture Exchange and alternative trading systems at a weighted average price of $0.27 for a total consideration of $343,794.

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.

The Company invites organizations seeking innovative and non-dilutive financing to register through TIMIA's fintech platform. Under revenue-based and asset-based origination models, 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
The Company 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 the future growth of the company and the future application of the company's loan origination platform to Pivot's loan book. 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, [phone], [email protected]

Related Links

http://www.timiacapital.com/