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TIMIA Capital Closes Second Limited Partnership Raising an Aggregate $26.2 Million of Non-Dilutive Capital and Pays Out Balance of Outstanding Debenture
TIMIA Capital Closes Second Limited Partnership Raising an Aggregate $26.2 Million of Non...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n TIMIA Capital Closes Second Limited Partnership Raising an Aggregate $26.2 Million of Non-Dilutive Capital and Pays Out Balance of Outstanding Debenture\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 \n \n \n Final close of LP II with\n \n $5.6 million\n \n (\n \n US$4.4 million\n \n ) of Subscription Agreements brings total raised to\n \n $26.2 million\n \n (\n \n US$20.6 million\n \n )\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n July 21, 2021\n \n \n /CNW/ -\n \n TIMIA Capital Corporation (\"TIMIA\" or the \"Company\")\n \n (TSXV: TCA) (OTCQB: TIMCF) today announced the receipt of an additional\n \n $5.6 million\n \n (\n \n US$4.4 million\n \n ) in subscriptions towards the second Limited Partnership (\"LP II\") previously announced on\n \n July 16\n \n , 2020.  With this fourth and final close, LP II has raised\n \n $26.2 million\n \n (\n \n US$20.6 million\n \n ) exceeding the success of the first limited partnership (\"LP I\") offered in 2019 and bringing the total non-dilutive capital raised through 2 Limited Partnerships, after recent successful exits, to more than\n \n $47.1 million\n \n . In addition to the closing of LP II, the Company has paid out the remaining\n \n $1.1 million\n \n of series D debentures.\n \n \n \"We have successfully closed our second limited partnership and secured in excess of\n \n US$20 million\n \n in non-dilutive capital for our fintech enabled platform,\" said\n \n Mike Walkinshaw\n \n , CEO of TIMIA. \"Our loan origination team is extremely busy, and this new non-dilutive capital will be deployed into new deals over the next few months.\"\n \n \n \n Li\n \n \n mited Partnership II Highlights:\n \n \n \n \n Over\n \n US$20 million\n \n of accretive capital raise with no dilution to the shareholders,\n \n \n TIMIA has previously provided\n \n $1 million\n \n of the capital in LP II, continuing to earn interest revenue from the current investment portfolio while aligning interests with the limited partners,\n \n \n Increases TIMIA's consolidated...