~Not for distribution to U.S. news wire services or dissemination in the United States~
VANCOUVER, BC – April xx, 2021 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA/OTCQB:TIMCF) is pleased to announce that further to its news release of March 25, 2021, it has increased the non-brokered private placement of series A preferred shares (the “Preferred Shares”) at a price of $1.00 per Preferred Share from $1,000,000 to $1,275,000.
The Company confirms that it has closed the first tranche of the private placement raising $775,000 through the issuance of 775,000 Preferred Shares at a price of $1.00 per Preferred Share. In addition, the Company has received a subscription agreement for the remaining $500,000 and anticipates closing this balance of the private placement in the coming weeks.
The Preferred Shares trade on the TSX Venture Exchange under the symbol TCA.PR.A. No finder’s fees were paid in connection with the Private Placement. All Preferred Shares issued under the Private Placement will be subject to a statutory hold period of 4 months from the date of issuance.
The Company anticipates using the proceeds to redeem issued and outstanding nonconvertible debentures and for general corporate purposes.
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 has developed a proprietary loan origination platform that services private market, high-yield loan opportunities, thereby earning recurring fees and a share of the profit. While focusing on the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment, TIMIA’s automated loan origination system is applicable to multiple technology sectors, it creates scalable and profitable growth for TIMIA’s stakeholders. 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 the use of proceeds of the private placement and the planned additional issuance of Preferred Shares under the private placement. 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. 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. 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.