BURLINGTON, ONTARIO--(Marketwire - Dec. 18, 2012) - Tempus Capital Inc. ("Tempus") announces it has signed a Letter of Intent (the "LOI") with 839291 Ontario Limited ("839") in respect of a contemplated acquisition of certain real estate in Ontario (the "Asset").
839 is the named purchaser in an accepted offer to purchase the Asset (the "Asset Agreement"). The LOI contemplates that 839 shall assign to Tempus all of 839's legal and beneficial interest in and to the Asset Agreement, including all deposits made in relation to the Asset Agreement, in consideration for the issuance by Tempus to 839 or as 839 may direct, 666,666 (six hundred and sixty-six thousand, six hundred and sixty-six) common shares in the capital of Tempus, at an issue price of $0.075 per share. The LOI also contemplates the execution of a formal assignment agreement to embody such terms, on or before December 19, 2012. Further details as to the nature of the Asset will be provided following the execution of such assignment agreement.
The closing of the Asset Agreement is subject to normal due diligence.
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.
Peter M. Clausi, President and CEO
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.
No regulator nor any Regulation Services accepts responsibility for the adequacy or accuracy of this press release.