WINNIPEG, September 27, 2016 – Empire Industries Ltd. (TSXV: EIL) today announced it has granted, under its stock option plan, incentive stock options to directors, officers, and management, for the purchase up to 1,983,750 common shares. The incentive stock options have an exercise price of $0.40, will expire September 26, 2021, and are subject to TSXV approval.
Empire Industries Announces Stock Option Grants
About Empire Industries LTD
Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company develops, designs and engineers products for the rapidly growing, global, media based attractions market and also uses these globally competitive competencies in the optical telescope market. The company designs and manufactures Hydrovac trucks for excavation service providers to the oil and gas industry and the municipal markets. The company provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company has two key strategic equity partnerships; a 49% ownership of ACE Industrial Services that operates in the oil sands industrial maintenance services market, and a 45% ownership of a Chinese joint venture company in the steel fabrication market in Asia. Empire’s common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com or contact:
- Guy Nelson
- Cheif Executive Officer
- Phone: (416) 366-7977
- Email: firstname.lastname@example.org
- Allan Francis
- Vice President – Corporate Affairs and Administration
- Phone: (204) 589-9301
- Email: email@example.com
The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither the Exchange nor its Regulation Service Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release
Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events. All statements other than statements of historical fact are forward-looking statements. The use of the words ‘‘may”, “expected”, “believes”, “anticipates” and other words of a similar nature are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Empire believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Such statements include statements with respect to the anticipated benefits of the Arrangement, completion of the Arrangement and any transactions associated therewith, the receipt of any regulatory, securityholder or other approvals required in connection with any transactions described herein, the expansion of the Hydrovac Business to China and the results, if any, thereof,, any increase in revenue and profitability of the Hydrovac Business and the success of any efforts in respect thereof, the satisfaction of the Escrow Release Conditions or the release of the proceeds of the Private Placement. There is no assurance that the parties will complete the Arrangement or any related transactions. Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, receipt of requisite regulatory approvals, and other factors, many of which are beyond the control of Empire. The forward-looking statements contained in this news release represent Empire’s expectations as of the date hereof, and are subject to change after such date. Empire disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.