Business
TIMIA Announces Letter to Shareholders
TIMIA Announces Letter to Shareholders Canada NewsWire VANCOUVER, May 5, 2020 ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\nTIMIA Announces Letter to Shareholders\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 5, 2020\n\n\n\nVANCOUVER, May 5, 2020 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V:TCA/OTC: TIMCF) today announced a letter to shareholders from Chief Executive Officer, Mr. Mike Walkinshaw.\nDear Fellow Shareholders,\nToday, we find ourselves facing an unprecedented global crisis and our first priority is to ensure we are all taking the necessary precautions to keep ourselves and our families safe and contribute to overall effort to reduce the impact of COVID-19. Our thoughts go out to those touched by the pandemic and the workers on the front lines, we genuinely appreciate the important work that they do. While TIMIA has been fortunate to keep our operations running smoothly with all our team working from home, we appreciate that not everyone is in this same position.\nThe purpose of this letter is to provide an update on your Company's progress and future plans. 2019 was a transformative year as we implemented several important changes to strengthen our business model and establish a leadership position in our sector. We have added to the management team and continue to focus on growth and shareholder value over the long term.\nThe Company continues to outperform based on most metrics.  Our 2019 Highlights include: \nRevenue increased by 90% to $3,046,608 Assets grew by 90% to $27,107,384 TIMIA's loan investment portfolio increased 123% to $21,596,037 compared to $9,680,390 in the prior year period Raised $18,500,000 for the first limited partnership Closed a lender finance arrangement totalling up to $7.5M to help fund growth in a warehouse format for future limited partnerships Gross portfolio return on loans deployed in 2019 was an impressive 19.9% The Company achieved record growth in revenue and assets under management for the third year in a row by leveraging our fintech platform and expanding our successful business model. Our reputation within the SaaS industry grows stronger with each successful loan ...