Tempus Applied Solutions Finalizes Acquisition Of Ex-Royal Air Force Air-To-Air Refueling Aircraft

WILLIAMSBURG, Va., March 12, 2018 /PRNewswire/ -- Tempus Applied Solutions (TAS) announced today that the company has finalized the acquisition of six Lockheed L-1011s formerly owned and operated by the Royal Air Force (RAF) of the United Kingdom.  Four of these aircraft are specifically configured for air-to-air refueling (AAR) operations and the remaining two are configured for passenger and cargo operations only.  The aircraft previously served the RAF and NATO.

Company CEO Scott Terry stated, "We are delighted that the aircraft inspections and records reviews were consistent with our expectations thus allowing us to complete this very important transaction.  We can now focus our attention on military customers in the USA and NATO that have urgent requirements for air-to-air refueling services." Terry added, "Now that the deal is closed, our potential customers can better understand our commitment to the aerial refueling mission."

The aircraft acquisition was completed utilizing TMPS common shares. 6,730,769 common shares were issued to the Seller at a value of $0.52 per share as payment for the aircraft.  Additionally, TMPS has agreed to either pay $150K in cash or to issue to the Seller approximately 833,000 common shares at a value of $0.18 per share to compensate the Seller for maintenance and storage costs incurred for keeping the aircraft in the condition required by the aircraft purchase agreement

For more information on Tempus, visit tempus-as.com.

MEDIA CONTACT:
Katherine Terry, public relations manager
[email protected] | +1 864.901.8114

ABOUT TEMPUS APPLIED SOLUTIONS HOLDINGS INC. (OTC: TMPS): Tempus provides design, engineering, systems integration and flight operations solutions that support critical aviation mission requirements for a variety of customers including the United States Department of Defense, other U.S. government agencies, foreign governments and select corporations and individuals in the private sector. Our experienced team of professionals provides efficient, economical and flexible service that responds to the most challenging demands facing the aviation industry today. Our commitment to safety and security has earned us a reputation as one of the most forward-thinking aviation companies worldwide. We are headquartered in Williamsburg, Virginia.

FORWARD LOOKING STATEMENTS:
This communication contains forward-looking statements that involve a number of judgments, risks and uncertainties concerning Tempus Applied Solutions Holdings Inc., its subsidiaries and their expected financial and operating performance and plans. Actual events or results could differ materially from those described or implied herein, including as a result of risks described in reports filed with the Securities and Exchange Commission by Tempus Applied Solutions Holdings Inc., and other risks and uncertainties. We do not undertake any obligation to update any forward-looking statements to reflect events or results after the date they were made, whether as a result of new information, new circumstances or otherwise, except as may be required under applicable laws.

SECURITIES LAW NOTICE: 
The securities offered as part of the transaction have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE Tempus Applied Solutions Holdings Inc.

Related Links

http://www.tempus-as.com