BURLINGTON, ONTARIO -- (Marketwired) -- 07/12/13 -- Tempus Capital Inc. ("Tempus") announces it has entered into an Agreement of Purchase and Sale to purchase a commercial/retail plaza in southern Ontario.
The purchase price for the property is $5,475,000. Closing is anticipated for Q3 2013, subject to normal due diligence review and equity financing. The purchase price will be paid by a combination of assumed mortgages and cash.
The plaza is a fully tenanted commercial / retail plaza of 32,000 sq. ft. The anchor tenant is a national office supply chain.
Tempus also announces that it has elected not to proceed with the "First Agreement" as set out in its press release of January 14, 2013. Releases have been exchanged and Tempus' deposit has been returned to Tempus.
Tempus continues with its normal course due diligence review of the privately-held assets identified in its April 23, 2013 press release, for which the purchase price is approximately $100,003,136.
Tempus is 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.
Russell Tanz, President and CEO
This press release contains 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, the Company 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 the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause the actual results, performance or achievements of the Company 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.
Tempus Capital Inc.
President and CEO