May 3, 2021 (Burlington, Ontario) Tempus Capital Inc. (“Tempus” or the “Company”) (CSE: TEMP) is pleased to report its operational and financial results for the fourth quarter and year December 31, 2020. Additional information concerning the Company, including its audited financial statements and Management Discussion and Analysis, for the year ended December 31, 2020, can be found at SEDAR.
Q4 and Full-Year 2020 FINANCIAL HIGHLIGHTS
- Loss before fair value increment was reduced from $127,539 in 2019 to $28,218.
- Net rental revenue of $594,274 a slight decrease of 4% from $619,151 in 2019.
- Fair value increment of $634,000 recorded resulting in net income of $541,782 compared to $106,461 for 2019.
- Earnings per share increased to $0.02 from $0.00 during the same period year over year.
- Currently at a 100% occupancy rate, despite the impacts of COVID-19.
“We are very pleased that Tempus Capital was able to achieve such strong numbers over the last year during this very challenging environment,” said Russell Tanz, Tempus President and CEO. “We had few turnovers in tenants in 2020; however, we were able to rent all our vacancies with increases. As we move forward through 2021, we will continue to build shareholder value through acquisitions and diversification.”
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.