~TIMIA invests in two SaaS companies through its unique non-dilutive finance facility with an initial disbursement of over $5.85 million~
VANCOUVER, BC – October 26, 2020 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA/OTCQB:TIMCF) today announces that it has entered into two investment facilities, through its Limited Partnership 1 and Limited Partnership 2 entities, for an aggregate value of approximately $8.3 million. The first investment facility is in the amount of $5.3 million (US$4.0 million) made to a US based SaaS company, and includes an initial disbursement of $4.6 million (US$3.5 million), which has been advanced. The second investment facility of $3 million has been extended to a Canadian software company. The financing facility includes an initial disbursement of $1.25 million. The initial disbursements have been advanced, and additional disbursements will be made upon certain milestones being met over the term of the agreement.
“As TIMIA grows so does our ability to offer increasingly large investment facilities to companies generating up to $20 million of annual revenue,” said Mike Walkinshaw, CEO of TIMIA. “We have a number of larger investment facilities and look to grow this part of our investment portfolio.”
TIMIA has developed a proprietary, scalable, technology-driven fintech platform to target higher risk-adjusted returns from its finance solutions, in pursuit of creating value for shareholders, and leveraging its non-dilutive capital structure. The Company is driving growth of its investment portfolio by providing non-dilutive investment facilities to revenue producing growth companies in the software as a service or SaaS industry.
TIMIA invites growing SaaS companies, seeking innovative and non-dilutive financing, to register through the TIMIA fintech platform. Under a revenue-based financing model, TIMIA advances capital to SaaS businesses with recurring revenue streams, allowing the portfolio company to make monthly payments, made up of a combination of principal and interest, with a repayment schedule sculpted to the portfolio company’s revenue streams. The amounts advanced are secured and may be repaid early.
TIMIA continues to add investments to its impressive portfolio of growing SaaS companies, as it executes on its business model to earn a combination of monthly payments and periodic gains on investments.
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.
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, the growth of the company’s investment portfolio and expectations regarding making further investments in the coming months. 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, risk of litigation and the risk that if the Company’s clients do not meet the milestones required for further advances, then the subsequent advances may not be made in which case the Company will not earn the returns expected on such advances. 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.