Not for distribution to U.S. news wire services or dissemination in the United States.
VANCOUVER, BC – October 29, 2020 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA/OTC: TIMCF) is pleased to announce that it has filed a final short form prospectus (the “Prospectus”) with the securities commissions in each of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario in connection with its previously announced commercially reasonable efforts offering (the “Offering”) of up to 10,000,000 Non-Cumulative Series A Preferred Shares (the “Preferred Shares”) at a price of $1.00 per Preferred Share (the “Offering Price”) for gross proceeds of up to $10,000,000 through a syndicate of agents which includes Echelon Wealth Partners Inc., Industrial Alliance Securities Inc., PI Financial Corp., Haywood Securities Inc. and Wellington-Altus Private Wealth Inc. (the “Agents”). The minimum size of the Offering is $3,000,000.
Closing of the Offering is expected to occur on November 25, 2020, or such other date as may be agreed by the Company and the Agents, acting reasonably.
The TSX Venture Exchange (the “TSXV”) has conditionally approved the Offering and the listing of the Preferred Shares, subject to customary conditions.
For more information, potential investors should read the Prospectus, which is available on the Company’s 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 is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $2 Million to $20 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com.
For more information, please contact:
Vice President, Capital Markets & Communications
Mike Walkinshaw, CEO
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.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Offering. This news release contains “forward‐looking statements” within the meaning of Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to the closing of the Offering and the listing of the Preferred Shares. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).