CPE News (12/13/2018) – TIMIA Capital Corporation (TSX-V: TCA; OTCGM: TIMCF), a specialty finance company, has raised $1.345 million through the issuance of Series E debenture units consisting of one $100 face value secured non-convertible debenture and warrants. The private placement resulted in the issuance of 13,450 debentures and 448,333 warrants.
TIMIA Capital intends to use proceeds to expand its growing portfolio of revenue financing investments.
photo credit: TIMIA Capital
TIMIA Capital Closes $1.345M Private Placement of Series E Debenture Units
VANCOUVER, BC, December 13, 2018 – TIMIA Capital Corporation (TSX-V:TCA /OTC:TIMCF) (“TIMIA” or the “Company”) today announced a private placement (“Private Placement”) closing of $1.345M of Series E debenture units (“Units”) at a price of $100 per Unit. Each Unit is comprised of one $100 face value secured non-convertible debenture (“Debenture”) and includes warrants representing 10% coverage (“Warrants”). The Debentures bear an interest rate of 12% per annum, payable quarterly in arrears, have a term of 5 years from November 30, 2018 and will be secured against the assets of the Company. The Warrants are exercisable for 5 years from November 30, 2018 at a price of $0.30 per share. TIMIA will use these proceeds, from both new and existing accredited investors, to expand its growing portfolio of revenue financing investments.
The Private Placement resulted in the issuance of 13,450 Debentures and 448,333 Warrants. A total commission of $28,700 and 95,666 broker warrants, exercisable at $0.30 with a 2 year term, were paid as part of this transaction.
All of the securities sold pursuant to the Private Placement are subject to a four-month hold period.
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 $1 Million to $10 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.