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TIMIA Capital Originates $7.6 Million of Non-dilutive Capital for Three Growing Software Companies and Provides Corporate Update
TIMIA Capital Originates $7.6 Million of Non-dilutive Capital for Three Growing Software ...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n TIMIA Capital Originates $7.6 Million of Non-dilutive Capital for Three Growing Software Companies and Provides Corporate Update\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 has originated\n \n $12.4 million\n \n of non-dilutive investments in the first\n \n half of fiscal 2021 bringing total assets under management to over $40 million~\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n June 7, 2021\n \n /CNW/ -\n \n TIMIA Capital Corporation (\"TIMIA\" or the \"Company\")\n \n (TSXV: TCA) (OTCQB: TIMCF) today announces that it has originated four investment facilities for four growing software companies for an aggregate value of approximately\n \n $7.6 million\n \n .\n \n \n The first investment facility of\n \n US$4.0 million\n \n (\n \n C$4.88 million\n \n ) has been extended to a US-based software-as-a-service (SaaS) company and existing client of TIMIA's wanting to increase their original facility. The SaaS company has continued to grow, posting strong operating results, and has successfully met TIMIA performance milestones triggering an increase to the amount of accessible capital. The revised investment facility included a new  disbursement of\n \n US$1.0 million\n \n (\n \n C$1.22 million\n \n ) which has been advanced.\n \n \n Two of the other three investment facilities are for\n \n US$1.5 million\n \n (\n \n C$1.83 million\n \n ) each, while the third investment facility is\n \n US$2.5 million\n \n (\n \n C$3.05 million\n \n )  all made to US-based SaaS companies. Two of these facilities include initial disbursements of\n \n US$500,000\n \n \n (C$610,000)\n \n , and the other includes an initial disbursement of\n \n US$1 million\n \n (\n \n C$1.22 million\n \n ), all of which have been advanced.\n \n \n The four investment facilities announced today include additional disbursements that may be made upon certain milestones being met over the term of the agreement. The source of non-dilutive capital for the four investment facilities is pri...