February 8, 2021 (Burlington, Ontario) Tempus Capital Inc. (“Tempus” or the “Company”) (CSE: TEMP) is pleased to announce that it has entered into an agreement to purchase a commercial property which includes a building with approximately 5,000 square feet, located in London, Ontario.
The property is currently rented to an established, local restaurant that has been serving the community for over 15 years. The current lease on the property is in place until 2026 with scheduled rental increases over the span of the next five years.
“We view the purchase of this property as an excellent addition to our portfolio,” said Russell Tanz, Tempus President and CEO. “It is located in proximity to many of our other properties, allowing for us to acquire this property without incurring any additional overhead costs. This new acquisition is expected to provide a positive return on our investment and be accretive to our shareholders.”
The purchase of the property is expected to close on or before March 31st, 2021.
Tempus is a real estate operating company engaged in the acquisition, development and ownership of income producing properties in Canada, with a focus on strip mall shopping centres, storefront retail and mixed residential and commercial properties. Tempus is a reporting issuer in British Columbia, Ontario and Alberta.
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 future transactions which 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.