VANCOUVER, BC / ACCESSWIRE / September 18, 2017 / TIMIA Capital Corp. ("TIMIA" or the "Company") (TSX-V:TCA) is pleased to announce that a total of 4,900,000 common share purchase warrants ("the Warrants") have been exercised at a price of $0.06 per common share. Proceeds from the exercise of the Warrants were $294,000 and 4,900,000 common shares have been issued from the Company's treasury.
The additional cash, along with the $650,000 in proceeds received in July 2017 from the previously announced equity offering will significantly strengthen the Company's balance sheet and allow for further investments to be made in private software companies, generating income for TIMIA and its shareholders.
The Warrants were issued in conjunction with an equity offering in August 2015 at the outset of the new TIMIA business model and 98% of the expiring Warrants were exercised.
Mike Walkinshaw, CEO of TIMIA commented, "Our balanced fundraising approach using both debt and equity allows for a flexible capital structure. This structure allows the Company to compete in funding private software companies while providing appropriate returns to our shareholders and debenture holders."
For more information please contact:
Chief Executive Officer
TIMIA Capital Corp.
Phone: (604) 398-8839
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.
SOURCE: TIMIA Capital Corp.