Business
TIMIA Capital Announces an Additional $8 Million of Subscription Agreements for Second Limited Partnership
TIMIA Capital Announces an Additional $8 Million of Subscription Agreements for Second Li...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n TIMIA Capital Announces an Additional $8 Million of Subscription Agreements for Second Limited Partnership\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, Nov. 5, 2020\n \n \n \n \n \n ~Upon se\n \n \n cond close, total non-dilutive capital raised through 2 Limited Partnerships, after recent successful exits, will grow to more than $36 million~\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 5, 2020\n \n /CNW/ -\n \n TIMIA Capital Corporation (\"TIMIA\" or the \"Company\")\n \n (TSXV: TCA) (OTCQB: TIMCF) today announced that it has received approximately\n \n $8 million\n \n in subscription agreements towards its second Limited Partnership (\"LP II\") previously announced on\n \n July 16\n \n , 2020.  Upon closing, LP II will have raised\n \n $18 million\n \n matching the success of TIMIA'S first limited partnership (\"LP I\") offered in 2019.\n \n \n Upon completion of customary closing conditions, LP II will have approximately\n \n $18 million\n \n of capital to invest in software-as-a-service (\"SaaS\") companies in\n \n North America\n \n . Closing of the additional\n \n $8 million\n \n is expected to occur on or about\n \n November 13, 2020\n \n . Management expects to have further closings in LP II, which will further increase investable capital over the next 12 months.\n \n \n \"Our ability to attract additional investment in our limited partnerships is based primarily on our success at attracting exciting, revenue-producing growth companies through our fintech platform,\" said\n \n Mike Walkinshaw\n \n , CEO of TIMIA. \"Our larger investment facilities and long investment horizon allows our team to seek out a broader range of companies generating up to\n \n $20 million\n \n of annual revenue.   After having delivered strong returns to our LP I investors, we were very happy to see > 90% of our LP I investors commit to investing in LP II.\"\n \n \n \n Limited Partnership II Highlights:\n \n \n \n \n Accretive to the Company with no dilution to th...