Burlington, Ontario--(Newsfile Corp. - June 7, 2022) - Tempus Capital Inc. (CSE: TEMP) ("Tempus" or the "Company") is pleased to announce an investment in a Participating Mortgage arrangement with 1530829 Ontario Inc., a Company which has been acquiring, renovating, and reselling or renting properties in Detroit, Michigan for the past seven years. The Company typically targets Colonial and Old Ranch style homes in areas being gentrified in Metropolitan Detroit.
Advances under the initial Participating Mortgage agreement, to a maximum of $82,800 USD, have a term of two years, are evidenced by a promissory note and a general security agreement.
The loan bears interest at 7% per annum and participates as to profit on the project on a 25% basis.
"We are very pleased that Tempus Capital is investing in this arrangement" said Russell Tanz, Tempus President and CEO. "We anticipate that the initial investment will provide additional opportunities for similar investments going forward."
About Tempus
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.
"Russell Tanz"
President and CEO
1-416-446-7898
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