~Investment provides sales and marketing capital for 7Geese and expands TIMIA’s cash flow and income stream~
VANCOUVER, BC – May 1, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced a $1.5 million investment facility for Paltech Solutions dba 7Geese Inc. (“7Geese”), of Vancouver. The financing facility includes an initial disbursement of $1,000,000 and a further $500,000 to be disbursed upon certain milestones being met over the term of the agreement.
“7Geese is expanding their sales and marketing efforts and looking to maximize their current growth trajectory,” said Greg Smith, CIO of TIMIA. “7Geese is a premier HR performance management company and growing rapidly. By Leveraging TIMIA’s unique financing solution, which is based on revenue metrics versus traditional equity provisions, 7Geese gets the growth capital they need while maintaining their ownership position. Naturally, it does seem to fit that our 7th portfolio investment under management and tenth overall is a company called 7Geese.”
TIMIA is continuously seeking new and exciting investments in the software as a service or SaaS industry. As such, the Company expects to make further investments in the coming months combined with successful exits from investments that can provide one-time gains on the investment.
“We conducted our research and TIMIA’s financing solution makes the most sense,” said Amin Palzabin, CEO of 7Geese. “We maintain control of the Company versus traditional equity-based lenders and strengthen our balance sheet with the right growth capital.”
7Geese is a performance management platform which helps companies achieve more through the use of OKR goal-tracking, facilitation of 1-on-1s and employee surveys. 7Geese delivers real-time data for managers and executives to make everyday decisions on employee performance and growth. Companies using 7Geese are able to customize the way they deliver and facilitate performance reviews using the technological convenience 7Geese provides with features including: OKR goal-tracking, feedback, 1-on-1s and employee recognition.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides revenue financing to technology companies in exchange for a stream of payments based on revenue. The alternative financing option complements both debt and equity financing, while allowing entrepreneurs to retain control of their business. TIMIA’s target market is the fast-growing business-to-business software-as-a-service (SaaS) segment. TIMIA is managed by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring and compliance.
For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Vice President, Capital Markets & Communications
TIMIA Capital Corporation
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Disclaimer for 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 future funding commitments of $500,000 which are subject to certain milestones being met and expectations regarding future investments in the coming months and successful exits from 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, the regulated nature of the industry in which the Company operates, intense competition in all aspects of business, reliance on limited management resources, general economic risks, new laws and regulations, risk of litigation, and volatility of the price of the Company’s common shares. 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.