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TIMIA Drives Forward with US$2M Finance Facility for Measured; Provides Corporate Update in Light of Market Conditions
TIMIA Drives Forward with US$2M Finance Facility for Measured; Provides Corporate Update i...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\nTIMIA Drives Forward with US$2M Finance Facility for Measured; Provides Corporate Update in Light of Market Conditions\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 18, 2020\n\n\n\nVANCOUVER, March 18, 2020 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V:TCA/OTC: TIMCF) announces that it has entered into a US$2 million investment facility with Measured Inc., a leader in media incrementality measurement based in Santa Monica, California. The financing facility includes an initial disbursement of US$750,000, which has been advanced, and a further US$1,250,000 to be disbursed upon certain milestones being met over the term of the agreement. \n\"Measured is a great company and we're excited to financially support their growth,\" said Mike Walkinshaw, CEO of TIMIA. \"Given the current economic climate and relative uncertainty, I also wanted to take this opportunity to provide an update on TIMIA and how we're positioned to manage current markets. We have a strong balance sheet and a scalable fintech platform that affords us the ability to adjust our investment tempo and profile. We will continue to closely monitor our existing portfolio of investments and keep looking for exceptional software as a service companies looking for non-dilutive capital.\"\nCorporate UpdateBetween the cash resources on TIMIA's balance sheet, on the balance sheet of the first Limited Partnership,  and through access to TIMIA's warehouse financing facility, the Company has in excess of $6M of cash to invest into existing and new companies, after completion of this latest investment in Measured.   \nTIMIA has 19 loan investments outstanding totalling more than $22M which are providing payments in excess of $250,000 monthly.  All loans are current. \nTIMIA's first priority is ensuring that its existing portfolio will have sufficient capital to weather the storm.  As always, the Company is utilizing monthly performance data from each portfolio company to determine which companies need attention.  In t...