November 4, 2020 (Burlington, Ontario) Tempus Capital Inc. (“Tempus” or the “Company”) (CSE: TEMP) is pleased to announce, as part of its diversification and growth strategy, it has entered into a Joint Venture Agreement (“Joint Venture”) to manufacture cannabis edibles. The investment in the Joint Venture consist of a cash investment of approximately $45,000.
The Joint Venture, of which Tempus owns a 20% interest, has entered into a Collaboration Agreement (the “Collaboration Agreement”) with MEDZ Cannabis Incorporated (“MEDZ”). MEDZ is a privately-owned company licensed for the cultivation, processing and sale of cannabis under the Cannabis Act. The Collaboration Agreement provides the Joint Venture with opportunities in the regulated cannabis industry within Canada.
“The Joint Venture and Collaboration Agreement provide Tempus an opportunity to continue to grow through diversification,” said Russell Tanz, Tempus President and CEO. “We are entering into this venture with experienced partners, enabling Tempus to mitigate risk in a new venture in a different industry.”
A diversification such as this incurs a variety of risks which include but are not limited to legislative changes, pricing, enforcement, currency exchange, execution, and the global economy. Other material risks, unknown to Tempus at this time, may emerge as operations of this start-up entity progresses and if so, Tempus will disclose such risks in due course.
The investment in the Joint Venture does not constitute a change of business as defined by the polices of the CSE.
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.