Business
TIMIA Announces Successful Exit from Karbon Inc.
TIMIA Announces Successful Exit from Karbon Inc. Canada NewsWire VANCOUVER, BC, ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\nTIMIA Announces Successful Exit from Karbon Inc.\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\nCanada NewsWire\nVANCOUVER, BC, Sept. 14, 2020\n\n\n\n\n ~Financing facility payout generates 30% return over term of the investment~\n VANCOUVER, BC, Sept. 14, 2020 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSXV:TCA) (OTC: TIMCF) today announced it has successfully exited from a previously announced financing with Karbon Inc.\nIn January 2019, TIMIA announced a US$3 million investment facility for Karbon Inc., a Sausalito, California-based software company. The financing facility for Karbon included a disbursement of US$1,000,000. With the early exit from the investment facility, Karbon has paid TIMIA US$1,500,000 in a combination of return of principal, interest and early redemption payments. The early buyout of the Karbon financing is expected to generate a gain of approximately $200,000 in TIMIA's consolidate financial statements. \n\"We congratulate the Karbon team and glad to see their continued success,\" said Mike Walkinshaw, CEO of TIMIA. \"We have a proprietary fintech platform that helps us identify and invest in exciting technology companies, like Karbon, for our investment portfolio. We'll continue to work diligently to find more growing technology companies and will report on our investments accordingly.\"\nTIMIA's fintech platform and subsequent investments produce periodic gains from early redemption of investment financings, like Karbon, which may have a meaningful impact on the Company's bottom line.  The gain of approximately $200,000 will impact the Company's Q4 2020 consolidated results.\nOver its five year history, TIMIA has exited 10 revenue finance investments, out of the total of 30 investments it has made, generating total gains of over $2.6 million in its consolidated income statement.  Furthermore, from the inception of the revenue financing model to date, TIMIA has never realized a loss of capital on any of its investments.    \nTIMIA is continuou...