News Releases

Empire Industries Ltd. (TSX-V: EIL, OTC:ERILF) (“Empire”, “EIL”, “us”, “our”, “we” or the “Company”) is pleased to announce that, subject to the approval of the TSX Venture Exchange (“TSX-V”), the Company has entered into agreements with 4 arm’s-length purchasers to sell an aggregate of 17,588,126 common shares (together the “Tornado Shares” and each a “Tornado Share”) in the capital of Tornado Global Hydrovacs Ltd.

Empire Industries Ltd. (TSX-V: “EIL”, “Empire” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement to a single investor of 20,731,707  common shares at an issue price of $0.41 per share for gross proceeds to the Company of $8,500,000 (the “Private Placement”).

Empire Industries Ltd. (TSX-V: EIL, OTC:ERILF) (“Empire”, “EIL”, “us”, “our”, “we” or the “Company”) today reported its unaudited consolidated financial results for the third quarter ended September 30, 2019.  The unaudited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at sedar.com or at empind.com.

Empire announces that James Chui has been appointed as Non-Executive Chairman, and that a company he controls has agreed to advance a $2 million unsecured related party loan to Empire.

Empire is pleased to announce that it has entered into a Purchase and Sale Agreement to re-acquire 100% ownership of its subsidiary (the “Acquisition”), Dynamic Entertainment Group Ltd. (“DEGL”). Empire will purchase the remaining 26.5% of DEGL’s outstanding shares from Jolly Admire Limited (“Vendor”) for $3,810,000 by the issuance of 381,000 convertible preferred shares in the capital of Company (the “Preferred Shares”), which Preferred Shares will have a redemption value of $10, accrue dividends at 8% per annum and are convertible into common shares of the Company at $0.45 per common share for a period of 36 months from the date of issue and thereafter for $0.75 per common share until 60 months from the date of issue.