Tempus Capital Update on Cannabis Edibles Joint Venture
Burlington, Ontario--(Newsfile Corp. - July 15, 2021) - Tempus Capital Inc. ("Tempus" or the "Company") (CSE: TEMP) wishes to update its shareholders on its previously announced joint venture on October 28, 2020, in which Tempus has taken a 20% initial capital investment in a new venture. The joint venture partner, Fritz's Cannabis Company ("Fritz's"), is an established Legacy Market producer, who will process, package, and distribute handcrafted THC and CBD-infused cannabis edibles.
Fritz's LP partner, Medz Cannabis, has now received full approval from Health Canada for its cannabis sales license. As a result, Fritz's is now ready to sell both THC and CBD edibles to Canadian consumers. Their unique cannabis products have never previously been sold in the Canadian regulated market.
"We are very excited for our partner, Fritz's Cannabis, on achieving this key milestone," said Russell Tanz, Tempus President and CEO. "This was the final step to begin to grow the business and contribute to the company's income and cashflow."
This approval means that Fritz's can sell through different channels, including authorized cannabis retail stores, and Medz' own farmgate store at their Etobicoke location. Fritz's has also launched its new website, www.Fritzs.ca to support their brand launch, and launch of their first products in market-Peach gummies, with 5 mg of THC, and Raspberry Lemonade gummies, with a balanced ratio of 5 mg of THC and 5 mg of CBD.
Fritz's has begun production in its 2,000 square foot processing space located in Toronto within the MEDZ Cannabis licensed facility. The facility is equipped with state-of-the-art equipment.
Fritz's has initiated talks with distributors for potential white-label contract manufacturing and retailers to carry their unique brand.
About Fritz's Cannabis Company
Founded in Toronto, Canada, in 2015, the Fritz's Cannabis Company began as a medical cannabis experiment and has developed into a passion for bringing artisanal edibles to the wider cannabis community. Fritz's focuses on handcrafted, small-batch edibles and innovative cannabis products. Fritz's is bringing consistent, flavourful, delicious cannabis products and exceptional experiences to the legal market.
Tempus is a real estate operating company engaged in the acquisition, development and ownership of income-producing properties in Canada, focusing 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90348