CALGARY, June 30, 2016 – Empire Industries Ltd. (“Empire”) (EIL: TSX-V) is pleased to announce that, further to its news release of June 28, 2016, the new shares of Empire will commence trading on a consolidated basis later today. A 4 for 1 consolidation of the Empire shares was completed as one of the steps of the Plan of Arrangement to spin-out the Hydrovac Business. Upon resumption of trading, there will be 64,834,119 Empire shares issued and outstanding.
Under the Plan of Arrangement Empire shareholders have received 32,417,060 shares of Tornado Global Hydrovacs Ltd. (“Tornado”) Empire and Tornado will provide a further announcement concerning the commencement of trading of the new Tornado shares on the TSXV when the information is available.
For further information on the Plan of Arrangement, please refer to Empire’s information circular dated May 20, 2016 available on SEDAR.