(Burlington, ON) Tempus Capital Inc. (“Tempus” or the “Company”) announces it has closed a private placement financing for common shares, and finalized the acquisition of an additional property.
The Company issued 875,000 common shares at $0.08 per share to a related party for cash proceeds of $70,000. Funds received are to be used for working capital purposes.
Tempus has closed on the acquisition of a commercial/residential building in southwestern Ontario (the “Property”) previously announced on September 16, 2014. The purchase price for an 85% interest in the Property, $2,163,250, was satisfied by first mortgage financing and the issuance of 3,981,818 common shares of Tempus at a price of $0.11 per common share.
Letter of Intent with Panda
Tempus also announces that it has terminated, by mutual agreement, the previously announced Letter of Intent dated December 5, 2013 with Panda Capital Inc. (“Panda”).
Tempus is a real estate operating company and a reporting issuer in British Columbia, Ontario and Alberta. None of Tempus` securities trade through any stock exchange or quotation facility.
On behalf of the board of directors
Tempus Capital Inc.
President and CEO
This press release may contain certain forward-looking statements, which reflect Management’s expectations regarding the Company’s completion of the proposed Portfolio acquisition and the anticipated closing date thereof constitute forward-looking statements. Whenever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect Management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Tempus cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Tempus assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause Tempus’ actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. No regulator nor any Regulation Services accepts responsibility for the adequacy or accuracy of this press release. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.