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TIMIA Announces Close of 12% D Round Debenture Offering
Wednesday, September 27, 2017Company Profile | Follow Company
Vancouver, BC, September 27, 2017--(T-Net)--TIMIA Capital Corp. (TSX-V:TCA) has announced the closing of its $1 million 12% “D Round” Debenture Offering as previously announced on February 2, 2017.
TIMIA closed $673,200 in new Debentures from both new and existing Accredited Investors.
These proceeds are in addition to the $650,000 from the issuance of common share equity announced on July 11, 2017 and the $294,000 of warrant exercise proceeds announced on September 18th, 2017.
TIMIA will use these proceeds to expand its growing portfolio of revenue financing investments. The Company has completed five revenue finance deals to date, has successfully exited one of those investments, and expects to close new investments in the near term. Please see the Forward-Looking Information Disclosure below.
Since the company was formed in August 2015, TIMIA has paid its debenture investors more than $527,000 of interest, all funded by its portfolio of Revenue Finance deals.
“We look forward to continuing to grow our portfolio and our monthly revenue, and passing a portion of it on to our investors in the form of interest” said Mike Walkinshaw, CEO of TIMIA.
The Debentures pay 12% annual interest and will be secured against the assets of the Company. They will mature on June 15, 2022 with an option for early redemption by the Company after 3 years from the date of issuance.
For more information please contact:
Mike Walkinshaw
Chief Executive Officer
TIMIA Capital Corp.
phone: (604) 398-8839
email: info@timiacapital.com
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 run by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring, compliance and workouts.
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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