~Not for distribution to U.S. news wire services or dissemination in the United States~
VANCOUVER, BC – December 13, 2021 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA/OTCQB:TIMCF), a leading innovator of technology in private credit, is pleased to announce its intention to complete a non-brokered private placement of up to 5,000,000 units of the Company (the “Units”) at a price of $0.35 per Unit for gross proceeds of up to $1,750,000 (the “Private Placement”). The Company has received a lead order from an institutional asset manager.
Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share of the Company at a price of $0.50 for a period of 24 months following the closing date, provided that TIMIA may accelerate the expiry date of the Warrants by providing 30 days’ notice to the holders by way of news release in the event that the closing price of the Common Shares on the TSX Venture Exchange equals or exceeds $1.00 per Common Share for a period of 10 consecutive trading days.
Closing of the Private Placement is subject to TSX Venture Exchange approval and is expected to occur during the week of December 24, 2021. All Common Shares and Warrants issued under the Private Placement will be subject to a statutory hold period of 4 months from the date of issuance.
The proceeds of the Private Placement will be used by TIMIA, for its own benefit to support its technology development, debt repayment, and future growth.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About TIMIA Capital Corporation
The Corporation utilizes a proprietary loan origination platform to originate, underwrite and service private-market, high-yield loan opportunities through two operating divisions: TIMIA Capital which offers revenue-based investment to fast growing, business-to-business Software-as-a-Service (or SaaS) businesses in North America, and Pivot Financial which specializes in asset-based private credit targeting mid-market borrowers in Canada. The Corporation deploys funds on behalf of limited partnerships, institutions, retail investors, high net worth individuals, its management team and shareholders. For more information about TIMIA and SaaS lending, please visit www.timiacapital.com. For more information about specialized private credit and Pivot please visit: www.pivotfinancial.com.
For more information, please contact:
Vice President, Capital Markets & Communications
Mike Walkinshaw, CEO
TIMIA Capital Corporation
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.
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements normally contain words like ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’ and similar expressions, and within this news release include any statements (express or implied) respecting completion of the Private Placement and the acceleration of the expiry date of the Warrants. Accordingly, readers should not place undue reliance on forward-looking statements. TIMIA undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.