Empire Industries Announces Proposed Spin-Out Transaction and Closing of Subscription Receipt Private Placement by Affiliate
CALGARY, February 1, 2016 – Empire Industries Ltd. (“Empire”) (EIL: TSX-V) is pleased to announce its proposal to complete transactions whereby Empire will spin-out (the “Spin-Out Transaction”) to a new corporation (“SpinCo”), its wholly-owned hydrovac business including all of the tangible and intangible assets, employees and operations of Tornado Trucks, a division of Empire (the …