TIMIA Capital Announces 5th Successful Exit from Revenue Finance Portfolio and Positive Impact
VANCOUVER, BC – August 31, 2018 – TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced that one of its revenue finance investments, Beanworks Solutions Inc. (“Beanworks”), has executed the early exit provisions of its revenue finance contract with TIMIA. TIMIA, which had invested $1,150,000 out of a $2,000,000 million facility in Vancouver, BC-based Beanworks, received an exit payment of $1,332,000.
“We’ve enjoyed working with Beanworks and supporting them through a major financing,” said Mike Walkinshaw, CEO of TIMIA. “We look forward to following their future success.”
For the 2018 fiscal year to date, this brings total gains on facility buyouts from four portfolio buyout transactions to approximately $1,400,000 or approximately $0.04 per issued and outstanding common share.
TIMIA is continuously seeking new and exciting investments in the software as a service or SaaS industry. 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.
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
For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Vice President, Capital Markets & Communications
Mike Walkinshaw, CEO
TIMIA Capital Corporation
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