TIMIA Capital Corp.

TIMIA Capital Corp.

December 22, 2015 11:00 ET

TIMIA Announces Final Closing of $2M Convertible Debenture Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 22, 2015) - TIMIA Capital Corp. ("TIMIA" or the "Company") (TSX VENTURE:TCA) is pleased to announce that it has raised the final $477,500 under its $2 Million convertible debenture offering ("Debentures") as initially announced by TIMIA on April 13, 2015. This raise is in addition to the $522,500 first close on the Debentures announced on August 4th, 2015, and the second close of $1 Million on October 23rd, 2015 bringing the total amount raised under the Debentures to $2 million.

TIMIA has been raising the funding on an as-needed basis to fund its program of Revenue-Based Financing ("RBF") investments. RBF is financing provided to early revenue stage companies that is paid back via a royalty on sales as opposed to a fixed payment.

TIMIA has completed two RBF investments to date and expects to complete further investments in the near term.

RBF is attractive to companies that are not yet qualified for traditional bank debt but do not want to suffer the dilution and control issues associated with equity issuances. Revenue growth and high gross margins are key attributes required by applicants in order for the successful application of RBF.

The Debentures are unsecured, pay 8% interest with semi-annual compounding, paid monthly and will mature five (5) years from the date of issuance with an option for early redemption by the Company after three (3) years. The Debentures are convertible at the option of the holder into common shares of the company at a conversion price of $0.14 per share. The Debentures, and any common shares issuable upon conversion thereof, will be subject to a four-month hold period in accordance with applicable securities laws. The offering is subject to the approval of the TSX Venture Exchange.

About TIMIA Capital Corp.

TIMIA is a revenue financing company that provides investment capital to Canadian technology companies in exchange for a royalty on revenue. This new financing option complements both debt and equity financing while allowing entrepreneurs to retain control of their own business.

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.


Michael Walkinshaw, Chief Executive Officer

TIMIA Capital Corp.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's issuance of Debentures, payment of interest thereon, acceptance of the offering by the TSX Venture Exchange and the Company's use of the proceeds of the offering, including investment in RBF instruments. 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.

Contact Information

  • Michael Walkinshaw
    Chief Executive Officer
    TIMIA Capital Corp.
    Contact: MikeW@timiacapital.com
    Phone: 604.616.2773