VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 1, 2015) – TIMIA Capital Corp. (“TIMIA” or the “Company”) (TSX VENTURE:TCA) is pleased to announce the successful sale of its equity position in dPoint Technologies Inc. (“dPoint”). dPoint was acquired by the Zehnder Group AG (“Zehnder”) on November 30, 2015 (“Close”).
The sale proceeds received by TIMIA are CDN$1,031,561, of which CDN$917,898 will be received in cash shortly following the Close, and CDN$113,663 will be held in escrow for 16 months from the Close. If no claims arise during the escrow period relating to the period prior to the Close, then amounts in escrow will be released to TIMIA.
Based upon TIMIA’s original investment of CDN$350,000, this represents a gain of $681,561 and a 2.95X cash-on-cash multiple on its investment. The cash proceeds represent approximately $0.048 per TIMIA common share in cash.
dPoint was one of the first equity investments made in the GreenAngel Energy equity portfolio prior to the Company changing its name to TIMIA Capital, reflecting a change from early stage equity to growth stage royalty based financing. TIMIA will continue to seek every opportunity to profitably monetize its portfolio of equity investments.
Mike Volker, Chairman of TIMIA says “We congratulate James Dean and the rest of his dPoint team on their very successful exit to Zehnder. James’ commitment to creating value for his dPoint investors over the years has been second to none. We wish James continued success as he continues to grow the dPoint product line under the Zehnder Group umbrella.”
Mike Walkinshaw, CEO of TIMIA added “TIMIA believes in backing committed and strong entrepreneurs. Our Revenue Finance model is specifically designed to align with entrepreneurs by allowing them to retain more of their company and earn more of the long term gains. As with our exit in dPoint, every so often TIMIA Capital expects to receive additional returns, on top of our monthly royalty income, a benefit of our ‘Frictionless Finance’ model.”
About TIMIA Capital Corp.
TIMIA (pronounced “Te-MY-ah”) 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.
ON BEHALF OF THE BOARD
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.
[email protected]
(604) 616-2773