Empire Industries Announces Engagement of Market Maker
WINNIPEG, June 7, 2016 – Empire Industries Ltd. (TSX-V: EIL) today announced that it has retained Integral Capital Markets, a division of Integral Wealth Securities Limited ("Integral") to provide market-making services in accordance with TSX Venture Exchange ("TSX.V") policies. Integral will trade shares of the Company on the TSX.V for the purposes of maintaining an orderly market and improving the liquidity of the Company's shares.
Integral will not receive shares or options as compensation, but will paid a monthly fee of $6,000. However, Integral and its clients may have or may acquire a direct interest in the securities of the Company. Empire and Integral are unrelated and unaffiliated entities; Integral is a member of the Investment Industry Regulatory Organization of Canada ("IIROC") and can access all Canadian Stock Exchanges and Alternative Trading Systems. The capital and securities required for any trade undertaken by Integral as principal will be provided by Integral. The Agreement is for an open-ended term of at least twelve months and may be terminated thereafter on 30 days' notice. The engagement is subject to regulatory approval.
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company has developed, designed and engineered products for the rapidly growing, global, media based attractions market. The company has a unique global expertise in designing and building telescope enclosures and related components. The company provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company also has two 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:
Chief Executive Officer
Phone: (416) 366-7977
Vice President – Corporate Affairs and Administration
Phone: (204) 589-9301
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’’. 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.