TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) announced Wednesday that it has entered into a US$2 million investment facility with Measured Inc.
TIMIA said Measure is a leader in media incrementality measurement based in Santa Monica, California.
In a statement, the firm said the financing facility includes an initial disbursement of US$750,000, which has been advanced, and a further US$1.25 million 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," TIMIA CEO Mike Walkinshaw said.
"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," he added.
Vancouver-based TIMIA said it will have more than US$6 million in cash to invest in existing and new companies, after completion of this latest investment in Measured.
The company has 19 loan investments outstanding totalling more than US$22 million which are providing payments in excess of US$250,000 monthly. All loans are current.
TIMIA said its first priority is ensuring that its existing portfolio will have sufficient capital to weather the current financial turmoil.
“As always, the company is utilizing monthly performance data from each portfolio company to determine which companies need attention,” the company said.
“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."
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