Panda Capital Inc. Announces Qualifying Transaction
Toronto, Ontario--(Newsfile Corp. - December 17, 2013) - Panda Capital Inc. (TSXV: PDA.H) ("Panda") is pleased to announce that it has entered into an arm's length letter of intent dated December 5, 2013 with Tempus Capital Inc. ("Tempus") whereby Panda will acquire all of the issued and outstanding common shares in the capital of Tempus (the "Proposed Transaction").
Tempus is an Ontario incorporated reporting issuer in Ontario, Alberta, and British Columbia, and is in the business of owning and managing commercial real estate. The securities of Tempus do not trade through any stock exchange or quotation facility.
Upon completion, the Proposed Transaction will constitute Panda's qualifying transaction pursuant to the policies of the TSX Venture Exchange ("TSX-V"), and is subject to compliance with all necessary regulatory and other approvals. A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSX-V.
For more information, please contact:
|Panda Capital Inc.||Tempus Capital Inc.|
|Paul Barbeau||Russell Tanz|
|Chief Executive Officer||Chief Executive Officer|
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.