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TIMIA Capital Originates $4.8 Million of Non-dilutive Capital for Two Growing SaaS Companies and Grants Options
TIMIA Capital Originates $4.8 Million of Non-dilutive Capital for Two Growing SaaS Compan...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n TIMIA Capital Originates $4.8 Million of Non-dilutive Capital for Two Growing SaaS Companies and Grants Options\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 ~\n \n \n Fintech platform identifies two SaaS companies as candidates\n \n \n \n for non-dilutive investments from Limited Partnership II~\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 29, 2021\n \n /CNW/ -\n \n TIMIA Capital Corporation (\"TIMIA\" or the \"Company\")\n \n (TSX-V: TCA) (OTCQB: TIMCF) today announces that it has originated two investment facilities for growing software companies for an aggregate value of approximately\n \n $4.8 million\n \n .\n \n \n One investment facility is in the amount of\n \n US$2.5 million\n \n (\n \n C$3.2 million\n \n ) made to a US-based software-as-a-service (SaaS) company and includes an initial disbursement of\n \n US$1.1 million\n \n (\n \n C$1.4 million\n \n ), which has been advanced. The second investment facility of\n \n US$1.25 million\n \n (\n \n C$1.6 million\n \n ) has been extended to a US-based software company which is an existing client of TIMIA's that wanted to modify their existing facility.  The initial disbursement of\n \n US$750,000\n \n \n (C$960,000)\n \n has been advanced and is in addition to retaining their existing fully disbursed facility of\n \n US$750,000\n \n . In both cases, additional disbursements will be made upon certain milestones being met over the term of the agreement. The source of non-dilutive capital for the two investment facilities is the Company's Limited Partnership II (\"LP II\").\n \n \n \"TIMIA creates value for shareholders by originating and servicing high quality loans for yield investors, thereby generating fees and keeping a share of the profit,\" said\n \n Mike Walkinshaw\n \n , CEO of TIMIA.  \"Our automated loan origination platform turns an old business model on its head by creating scalability while at the same time lowering transaction costs and increasing credit quality.  This value is demonstrated...