~Application in place for DTC eligibility to afford US investors faster settlement on trades~
VANCOUVER, Sept. 9, 2019 /CNW/ - TIMIA Capital Corporation ("TIMIA" or the "Company") (TSX-V:TCA; OTCQB: TIMCF) today announced that shares of the company have been approved and will commence trading on the OTCQB Venture Market ("OTCQB") under the symbol TIMCF, effective today.
The Company has also applied to the Depository Trust Company ("DTC") for both DTC and CNS eligibility to greatly reduce the cost and simplify the process of trading in its common shares on the OTCQB in the United States. The Company is seeking to be fully DTC eligible in the coming weeks.
"Upgrading to the OTCQB Venture Market and DTC eligibility is a critical step in increasing our U.S. investor audience, enhancing our liquidity and increasing the visibility of our company within the U.S. capital markets," said Mike Walkinshaw, CEO of TIMIA. "We have steadily increased our financing for U.S.-based SaaS companies, making trading on OTCQB in the U.S. complementary and a platform to further expand our brand south of the border."
The OTCQB is a U.S. trading platform operated by the OTC Markets Group, located in New York. The OTC Markets Group operates financial markets for approximately 10,000 U.S. and global securities. The OTCQB's high standards for quality and transparency provide a strong and reliable platform for engaging with U.S. investors.
About OTC Markets Group
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, it connects a diverse network of broker-dealers that provide liquidity and execution services. OTC Markets Group enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how OTC Markets Group creates better informed and more efficient markets, visit www.otcmarkets.com.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA's singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting seeking to be DTC eligible in the coming weeks and the further expansion of the Company's brand south of the border and US investor audience. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the following assumptions: that the Company and its investee companies are able to meet their respective future objectives and priorities, assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company. Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Timia's business. Material risks and uncertainties applicable to the forward-looking statements set out herein include, but are not limited to, the Company having insufficient financial resources to achieve its objectives; availability of further investments that are appropriate for the Company on terms that it finds acceptable or at all; successful completion of exits from investments on terms that constitute a gain when no such exits are currently anticipated; intense competition in all aspects of business; reliance on limited management resources; general economic risks; new laws and regulations and risk of litigation. Although Timia has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Timia. Accordingly, readers should not place undue reliance on forward-looking statements. Timia undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.
SOURCE TIMIA Capital Corp.
For further information: Mike Walkinshaw, CEO; Darren Seed, Vice President, Capital Markets & Communications, TIMIA Capital Corporation, (604) 398-8839, [email protected]