VANCOUVER, BC, May 1, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced that Cvent, Inc. has announced its intent to acquire one of TIMIA’s portfolio companies, QuickMobile Inc. (“the Transaction”). QuickMobile is required to repay the original $2 million investment to TIMIA plus an undisclosed amount under the terms of its investment agreement, pending the successful completion of the Transaction. Further details will be disclosed upon closing of the Transaction which is expected to be on or about the end of May 2018.
“We have previously commented on the exciting M&A activity in the SaaS sector and how it can provide one-time gains to TIMIA as an active specialty lender in the space,” said Greg Smith, CIO of TIMIA. “The payout is expected to have a material impact on our Q2 2018 income statement and we’ll update the public with more details upon closing of the transaction.”
TIMIA is continuously seeking new and exciting investments in the software as a service or SaaS industry. As such, the Company expects to make further investments in the coming months combined with successful exits from investments that can provide one-time gains on the investment.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides revenue financing to technology companies in exchange for a stream of payments based 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 managed by a seasoned investment team with a track record of originating and managing debt and equity investments, as well as monitoring and compliance.
For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Darren Seed
Vice President, Capital Markets & Communications
TIMIA Capital Corporation
(604) 398-8839
IR@timiacapital.com
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 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 future repayments under the investment agreement with QuickMobile which are subject to variance and risk of a failure of the closure of the Transaction and expectations regarding future investments in the coming months and successful exits from investments. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the following assumptions: that the Company and its investee companies are able to meet their respective future objectives and priorities, assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company. Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Timia’s business. Material risks and uncertainties applicable to the forward-looking statements set out herein include, but are not limited to, the Company having insufficient financial resources to achieve its objectives, the regulated nature of the industry in which the Company operates, intense competition in all aspects of business, reliance on limited management resources, general economic risks, new laws and regulations, risk of litigation, and volatility of the price of the Company’s common shares. Although Timia has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Timia. 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.