Tempus Capital Announces Third Quarter Results
Burlington, Ontario--(Newsfile Corp. - November 30, 2020) - Tempus Capital Inc. (CSE: TEMP) ("Tempus" or the "Company") is pleased to report its operational and financial results for the nine-month period ending in September 30, 2020.
The financial statements and MD&A were filed electronically on SEDAR.
Q3 2020 FINANCIAL HIGHLIGHTS
- Maintained 98% occupancy rate, despite the impacts of COVID-19.
- Rental revenue of $240,675, a slight decrease of 2% from $245,677 for the same quarter of 2019.
- Achieved positive net income for the quarter.
"We closed our third quarter with a strong occupancy rate even through the ongoing global pandemic," said Russell Tanz, Tempus President and CEO. "We continue to be extra diligent adhering to government regulations regarding COVID-19, as the health of our tenants and employees remains paramount. Tempus continues to explore new opportunities both on the real estate front as well as part of our diversification strategy as we build shareholder value."
Notably, the Company continues to achieve rental increases on new leases, which is in line with the current rental trends in respective regions.
The new joint venture to manufacture cannabis edibles, as previously announced on November 4, 2020, continues to move ahead as expected. The Company anticipates a line of specialty edible cannabis products which will begin generating revenue in Q1 2021.
Tempus invites investors to join President and CEO, Russell Tanz as he joins PBA (Paul Benwell & Associates) for a presentation on the Company and update on the ongoing activities. The webinar will take place on Wednesday, December 9th at 12:00pm EST. The link provides online registration to join the webinar:
After registering, you will receive a confirmation email containing information about joining the webinar.
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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