VANCOUVER, BRITISH COLUMBIA–(Feb. 5, 2016) – TIMIA Capital Corp. (“TIMIA” or the “Company”) (TSX VENTURE:TCA) is pleased to announce that it has continued its exciting momentum into 2016 by closing its 3rd Royalty Financing into Predictable Revenue Inc.
The financing is for a total of $1 Million; $400,000 upon close and $600,000 in subsequent tranches at both parties’ option. In exchange for this financing, TIMIA will receive a monthly royalty on gross software license revenue until a defined maximum amount has been reached.
Predictable Revenue Inc. is the only pipeline automation software built to help companies achieve predictable revenue. Using a combination of integrated tools and professional support, customers can achieve dramatic near term increases in revenue. Proceeds of the financing will be used to provide additional resources for scaling.
Revenue Financing is attractive to companies that are not yet qualified for traditional bank debt but do not want to suffer the dilution and control issues associated with equity issuances. Revenue growth and high gross margins are key attributes required by applicants in order for the successful application of Revenue Financing.
Mike Walkinshaw, CEO of TIMIA, said, “We are excited to be supporting the Predictable Revenue team, they have one of the most committed customer bases we have seen.” Mike added “2016 is off to a strong start for TIMIA. We look forward to continuing our momentum with more exciting technology company financings through the year.”
About TIMIA Capital Corp.
TIMIA (pronounced “Te-MY-ah”) is a revenue financing company that provides investment capital to Canadian technology companies in exchange for a royalty on revenue. This new financing option complements both debt and equity financing while allowing entrepreneurs to retain control of their own business.
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.
ON BEHALF OF THE BOARD
Michael Walkinshaw, Chief Executive Officer
TIMIA Capital Corp.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s issuance of Debentures, payment of interest thereon, acceptance of the offering by the TSX Venture Exchange and the Company’s use of the proceeds of the offering, including investment in RBF instruments. 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.
TIMIA Capital Corp.
Chief Executive Officer