TIMIA Announces Maturity of Convertible Debentures

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[{"type":"text","content":"TIMIA-Debentures\n \n \n \n TIMIA Announces Maturity of Convertible Debentures\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 13, 2020\n \n \n \n \n \n \n \n ~$2 million\n \n of convertible debentures issued in\n \n October 2015\n \n come to maturity with more than half being reinvested in TIMIA~\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 13, 2020\n \n /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V: TCA) (OTC: TIMCF) announced today that the convertible debentures (\"Debentures\") issued in 2015 matured on\n \n October 7th, 2020\n \n .\n \n \n The principal amount of the matured Debentures was\n \n $2,051,000\n \n . Debenture holders have chosen to:\n \n \n \n receive\n \n $887,500\n \n of their principal back in the form of cash,\n \n \n convert\n \n $530,000\n \n into common shares resulting in the issuance of 3,785,714 common shares, and,\n \n \n extend the maturity of\n \n $633,500\n \n of Debentures in order to participate in the exchange option for the proposed issuance of 8% preferred shares pursuant to the Company's short form prospectus offering.\n \n \n \n Should the short form prospectus offering of preferred shares not proceed for any reason, those Debenture holders that have chosen to extend the maturity date to\n \n November 27th, 2020\n \n in order to participate in the exchange option, will receive repayment of the principal in cash on that date.\n \n \n \"We appreciate the show of support with more than\n \n $1.1 million\n \n of the Debentures being reinvested in TIMIA through the conversion to common shares and the participation in the exchange option under our proposed offering of 8% preferred shares,\" said\n \n Mike Walkinshaw\n \n , CEO of TIMIA.\n \n \n \n About TIMIA Capital Corporation\n \n \n TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financ...

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