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TIMIA Capital Continues to Strengthen Balance Sheet with non-Dilutive Capital and Debenture Payouts
TIMIA Capital Continues to Strengthen Balance Sheet with non-Dilutive Capital and Debentu...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n TIMIA Capital Continues to Strengthen Balance Sheet with non-Dilutive Capital and Debenture Payouts\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 -Third close of LP II with\n \n US$1.3 Million\n \n of Subscription Agreements;\n \n $1.8M\n \n in Series D debenture payouts with an additional debenture payout of\n \n $1.1 million\n \n planned\n \n \n for Q2 2021-\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 18, 2021\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 US$1.3 million\n \n (\n \n $1.6 million\n \n ) in subscriptions towards the second Limited Partnership (\"LP II\") previously announced on\n \n July 16\n \n , 2020.  With this third close, LP II has raised\n \n US$16.1 million\n \n (\n \n $21.4 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\n \n $1.8 million\n \n of series D debentures and plans to pay out the remaining balance of series D debentures in the amount of\n \n $1.1 million\n \n in Q2 of fiscal 2021.\n \n \n \"High yield investors recognize the value of our fintech origination platform and its ability to  originate and service high quality investments,\" said\n \n Mike Walkinshaw\n \n , CEO of TIMIA. \"As we invest in the platform we are seeing increased efficiencies and we have reached a point where economies of scale of the platform are kicking in. We are now offering investments beyond the traditional Software as a Service market to include a broader basket of Software Enabled Services technology companies generating up to\n \n $20 million\n \n of annual revenue.\"\n \n \n \n Limited Partnership II Highlights:\n \n \n \n \n Accretive to the Company with no dilution to the s...