Victoria, British Columbia--(Newsfile Corp. - May 1, 2023) - Tiny Ltd. (TSXV: TINY) ("Tiny" or the "Company") is pleased to announce the release of the audited annual financial statements and notes thereto for the year ended December 31, 2022 (the "Financial Statements") of Tiny Capital Ltd. ("Tiny Capital") and related management's discussion and analysis (the "MD&A"). The Financial Statements and MD&A are available for viewing under the Company's profile on SEDAR (www.sedar.com).
The Financial Statements relate to Tiny Capital prior to its business combination transaction, which closed on April 17, 2023, whereby Tiny Capital and WeCommerce Holdings Ltd. ("WeCommerce") combined their businesses in an all-share transaction by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia).
The Company expects to file Q1 unaudited interim financial statements for each of WeCommerce and Tiny Capital (separately and on an unconsolidated basis) in accordance with the timelines for such statements prescribed by applicable securities laws. The first consolidated financial statements of the Company will be for the three and six months period ended June 30, 2023.
About Tiny Ltd.
Tiny is a leading technology holding company with a strategy of acquiring majority stakes in wonderful businesses. Tiny has three core business segments, Beam, WeCommerce and Dribbble, with other standalone businesses including a private equity investment fund.
Beam, and its subsidiary companies including MetaLab, helps start-ups to Fortune 500 companies to design, build and ship premium digital products for both mobile and web. The Company's capabilities as an end-to-end product partner provide clients with intimate insight into end-user behavior, allowing for a thorough, strategy-led approach to product design, engineering, brand positioning and marketing.
WeCommerce provides merchants with a suite of ecommerce software tools to start and grow their online stores. Our family of companies and brands includes Pixel Union, Out of the Sandbox, KnoCommerce, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. As one of Shopify's first partners since 2010, WeCommerce is focused on building, acquiring, and investing in leading technology businesses operating in the Shopify partner ecosystem.
Dribbble is a creative network and community that design professionals use to meet, collaborate, and showcase their work. Dribbble also hosts an online marketplace for graphics, fonts, templates, and other digital assets.
Other standalone businesses include several software and internet companies and the operation of a private equity fund where the Company serves as the general partner (the "Tiny Fund"). The Tiny Fund commenced operations in August 2020 and has total committed capital of US$150 million.
For more information, please contact:
Chief Financial Officer
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and forward-looking statements in this press release includes, but is not limited to information and statements regarding the anticipated filing and timing of financial statements of Tiny Capital, WeCommerce and Tiny.
Investors are cautioned that forward-looking statements are not based on historical facts, but instead reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company.
Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: credit, liquidity and additional financing risks for the Company; the Company's actual financial results and ability to manage its cash resources; changes in general economic, business and political conditions, including challenging global financial conditions, as a result of the COVID-19 pandemic or otherwise; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and the other risk factors more fully described under the heading "Risks Related to the Operations of Tiny and the Resulting Issuer" in the Circular and under the heading "Risk Factors" in each of Company's most recent annual information form and management's discussion and analysis, each of which is available on the Company's SEDAR profile at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Source: Tiny Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164495