~ TIMIA to pay the cash dividend payment to
shareholders of Series A Preferred Shares of record on June 23rd ~
VANCOUVER, BC, June 3, 2022
/CNW/ - TIMIA Capital Corporation ("TIMIA" or the "Company")
(TSXV: TCA) (OTCQB: TIMCF), a leading innovator of technology in
private credit, today announced that the Company's board of
directors has declared a quarterly cash dividend of $0.02 per Series A Preferred Shares ("Preferred
Shares"), payable on June 30, 2022,
to Series A preferred shareholders of record as at June 23, 2022. The Corporation's dividend
payments qualify as an 'eligible dividend' for Canadian income tax
purposes.
"We continue to see opportunities in the private credit sector
to grow organically and through strategic acquisition," said
Mike Walkinshaw, CEO of TIMIA. "As
we work to close the previously announced letters of intents to
acquire Brightpath and a specialty credit company, we will leverage
our loan origination platform to make those businesses more
efficient and our company stronger. In the current rising rate
environment our businesses continue to be very competitive within
the private credit sector."
Holders of Preferred Shares are entitled to receive fixed
non-cumulative preferential cash dividends, if, as and when
declared by the board of Directors of the Corporation at an annual
rate equal to $0.08 per Preferred
Share. Dividends, if declared, will be payable on the last day of
December, March, June and September in each year, or if such day is
not a business day, on the next business day, at a quarterly rate
of $0.02 per Preferred Share.
About TIMIA Capital
Corporation
The Company democratizes private credit for investors by
offering a broad range of specialty private credit opportunities
with transparency and efficiency, facilitated by the Company's
proprietary technology platform. These high-yield loan
opportunities are delivered through operating divisions: TIMIA
Capital which offers revenue-based investment to fast growing,
business-to-business Software-as-a-Service (or SaaS) businesses in
North America, and Pivot Financial
which specializes in asset-based private credit targeting
mid-market borrowers in Canada.
The Corporation deploys funds on behalf of limited partnerships,
institutions, retail investors, high net worth individuals, its
management team and shareholders. For more information about TIMIA
and SaaS lending, please visit www.timiacapital.com. For more
information about specialized private credit and Pivot please
visit: www.pivotfinancial.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.
Forward-Looking
Information
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 the future growth of the company, completing the
Brightpath and specialty credit company transactions, the belief
that the Company's business will get stronger in a rising rate
environment, and the future declaration of dividends.
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.