Empire Industries Announces Voting Results from AGM,Changes to Board, Audit Committee Composition

WINNIPEG, October 17, 2019 – Empire Industries Ltd. (TSX-V: EIL) (“Empire” or the “Company”) today announced changes to the composition of its board of directors, arising from its Annual General and Special Meeting of Shareholders held yesterday.

Changes to the Board
The shareholders re-elected four (4) directors to the board at the meeting.  Not returning this year is Ian Macdonald.  Mr. Macdonald announced his retirement after the information circular was issued and withdrew his candidacy accordingly.  Guy Nelson, Terry Quinn, Bob Marshall and James Chui were all re-elected.

The results of the vote on the election of the Board of Directors are as follows:

Additionally, resolutions approving the following additional matters were passed at the meeting:

• Fixing the number of directors to be elected at four (4): passed with 100% of votes cast in favour.
• Appointing MNP LLP as auditors of the Company: passed with 100% of votes cast in favour.
• Approval of Company’s Stock Option Plan: passed with over 99% of votes cast in favour.
• Authorizing a name change of the Company from Empire Industries Ltd. to Dynamic Entertainment Inc.: passed with over 99% of votes cast in favour. This is an enabling motion, not an immediate name change.  The timing of when or whether an actual name change will take place is left to the discretion of the board of directors.

Mr. Nelson gave a presentation about the company after the formal business portion of the meeting was completed.  The presentation and Company video can be viewed on the company’s website at empind.com.

Audit Committee
After the meeting, the Board of Directors appointed James Chui and Robert Marshall as new members of the Audit Committee, joining existing members Terry Quinn and Guy Nelson.  Terry Quinn was appointed Audit Committee Chair.

About Empire Industries Ltd.
Empire focuses on designing, supplying, and installing premium theme park, media-based attractions and ride systems for the global entertainment industry. Empire also uses these same turn-key integration services for special projects such as large optical telescopes and enclosures. Through Empire’s execution of its strategy over the years, Empire owns several non-entertainment investments, such as its equity holding in Tornado Global Hydrovacs Ltd.  Empire’s common shares are listed on the TSX Venture Exchange under the symbol EIL.

For more information about the Company, visit empind.comor contact:

Guy Nelson
Chief Executive Officer
Phone:  (416) 366-7977
Email:  gnelson@empind.com

Allan Francis
Vice President – Corporate Affairs and Administration
Phone:  (204) 589-9301
Email:  afrancis@empind.com

Reader Advisory
This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire’s business and affairs.  In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’ or similar expressions.  These forward-looking statements are based on current expectations and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially.  Readers are cautioned not to place undue reliance on such forward‐looking statements. Forward-looking information is provided as of the date of this press release, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.