TIMIA Capital exits iCompass Technologies with $694K gain

TIMIA Capital Corporation (TSX-V: TCA) announced today that iCompass Technologies Inc., one of its revenue finance investments, has executed the early exit provisions of its revenue finance contract with TIMIA.

TIMIA Capital invested $1.25 million in three closing in iCompass and received $1,606,000, brining total proceeds to $1,944,000 including $338,000 accumulative monthly payments received to the end of November 30, 2017

TIMIA Capital will record a realized gain of approximately $300,000 during fiscal Q1, 2018.

Founded in 1999, Seattle, Washington and Kamloops, BC based iCompass is a leading solution provider to local governments to help them achieve their goals of operational efficiency, transparency and serving citizens better.

News Release

TIMIA Capital Announces 2nd Successful Exit from Revenue Finance Portfolio

VANCOUVER, BC – TIMIA Capital Corporation (TSX-V:TCA) (“TIMIA” or the “Company”) is pleased to announce that one of its revenue finance investments, iCompass Technologies Inc. (“iCompass”), has executed the early exit provisions of its revenue finance contract with TIMIA.

TIMIA, which had invested $1,250,000 in Kamloops, British Columbia-based iCompass, received an exit payment of $1,606,000, in addition to cumulative monthly payments received to the end of November 30, 2017 of $338,000, for a total of $1,944,000 received over the life of the facility. As a result of this payout, TIMIA will record a realized gain of approximately $300,000 during fiscal Q1, 2018.

TIMIA’s investment strategy is to earn significant returns for its shareholders via a combination of steady monthly payments and intermittent capital gains. These capital gains occur as investee companies are sold or otherwise exit the financing facilities prior to the end of the term. As TIMIA’s sole focus is software technology companies, which are subject to a high rate of mergers and acquisition activity, the management of TIMIA expects further exits to occur in the portfolio over the term of the underlying revenue finance facilities. This forward looking statement is subject to the forward looking disclaimer contained below.

“TIMIA is proud to have been a key investment partner for iCompass over the past 2 years,” says Mike Walkinshaw, CEO of TIMIA. “Our investment capital helped the company expand revenue and access new markets, while allowing the management and investors of iCompass to retain a greater share of their company.”

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 managed by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring, compliance and workouts.

For more information about TIMIA Capital Corporation, please visit www.timiacapital.com

For more information, please contact:
Mike Walkinshaw
Chief Executive Officer
TIMIA Capital Corporation
(604) 398-8839
IR@timiacapital.com

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.


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.
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