FOR IMMEDIATE RELEASE: August 29th, 2017
VANCOUVER, BC – TIMIA Capital Corporation (TSX-V:TCA) (“TIMIA” or the “Company”) is pleased to announce that it has completed the first exit from one of its revenue finance investments, Lambda Solutions Inc. (“Lambda”).
The proceeds of this exit, plus monthly payments received over the life of the investment, totalled $823,000 and represent a 22% annualized IRR on the $600,000 investment. TIMIA will recognize a net book value gain of $35,000 on the disposition of this facility.
TIMIA’s investment strategy is to earn significant returns for its shareholders via a combination of steady monthly payments and occasional capital gains when investee companies exit TIMIA’s investment facility.
Lambda was TIMIA’s first revenue finance investment in August, 2015 and has significantly grown its revenue and shareholder value over the past 24 months.
“TIMIA was proud to have been a key investment partner for Lambda Solutions Inc. over the past 24 months,” says Mike Walkinshaw, CEO of TIMIA, “and our investment capital helped the company breakthrough critical milestones.”
TIMIA looks forward to re-deploying the capital into new and existing revenue finance investments in the coming months. This forward looking statement is subject to the forward looking disclaimer contained below.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides revenue financing to technology companies in exchange for a royalty stream 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, compliance and workouts.
For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Chief Executive Officer
TIMIA Capital Corporation
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any obligation to update the forward-looking statements except as required by law.
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