TIMIA has entered into a US$3 million investment facility with Zmags, a Massachusetts-based firm that provides digital experiences to retailers.
TIMIA Capital (TSXV:TCA,OTC:TIMCF) has entered into a US$3 million investment facility with Zmags, a Massachusetts-based firm that specializes in providing digital experiences to retailers.
As quoted in the press release:
The financing facility includes an initial disbursement of US$1,500,000, which has been advanced, and a further US$1,500,000 to be disbursed upon certain milestones being met over the term of the agreement.
“Zmags is a growing technology company with great prospects as it looks to expand its Creator platform and services offerings,” said Greg Smith, CIO of TIMIA. “Their corporate finance team was looking at a number of different alternatives and felt that TIMIA’s non-dilutive capital was the best choice for their financing needs. With the investment from TIMIA, Zmags avoids the dilutive impact of equity financing at an attractive market rate. We look forward to watching this exciting company grow.”