Tempus Capital Makes Strategic Investment
Burlington, Ontario--(Newsfile Corp. - November 4, 2020) - Tempus Capital Inc. (CSE: TEMP) ("Tempus" or the "Company") 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
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