VANCOUVER, 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.
"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."
Between 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.
TIMIA has 19 loan investments outstanding totalling more than $22M which are providing payments in excess of $250,000 monthly. All loans are current.
TIMIA'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 these uncertain times, TIMIA is scrutinizing the operating metrics of each portfolio company and has been proactively engaging with them to assess their specific contingency plans. TIMIA is allocating a portion of its existing cash resources to ensure that portfolio companies remain well supported.
TIMIA has developed a proprietary, scalable, technology-driven fintech platform targeting higher risk-adjusted returns on its finance solutions, creating value for shareholders, and leveraging its non-dilutive capital structure.
TIMIA invests in growing software as a service ("SaaS") companies like Measured that require creative financing options. Under TIMIA's revenue-based financing model, TIMIA advances capital to SaaS businesses with recurring revenue streams that allows the portfolio company to make monthly payments, that are a combination of principal and interest, to TIMIA with a repayment schedule sculpted to the portfolio company's recurring revenue streams. The Company expects to make further investments in the coming months in the pursuit of its business model, which is to earn a combination of monthly payments and periodic gains on investments.
Measured helps inform the incrementality of paid media for acquisition marketers to drive cross-channel investment decisions. Its approach is rooted in innovative, always-on A/B experimentation, proven to be the most effective and accurate methodology for determining incremental contribution. Incrementality drives Measured's cross-channel attribution and decisioning platform. Measured is based in Santa Monica and maintains offices in New York, Boston and India. For more information, visit www.measured.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 focus is the fast growing, global, business-to-business 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 future monthly payments from the Company's investments, allocating a portion of the Company's existing cash resources to ensure that portfolio companies remain well supported, making further disbursements upon the completion of certain milestones and expectations regarding making further investments in the coming months. 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: Darren Seed, Vice President, Capital Markets & Communications, Mike Walkinshaw, CEO, TIMIA Capital Corporation, (604) 398-8839, [email protected]