Empire Industries Ltd.
TSX VENTURE : EIL

Empire Industries Ltd.

September 27, 2016 07:00 ET

Empire Industries Announces Stock Option Grants

WINNIPEG, MANITOBA--(Marketwired - Sept. 27, 2016) - Empire Industries Ltd. (TSX VENTURE: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.

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 designed and manufactured products for the rapidly growing, global, media based attractions market. The Company also provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The Company also 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.

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 and includes suggestions of future outcomes, including statements about the approval and acceptance of the Share Consolidation and number of Common Shares outstanding following the Share Consolidation. 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. These risks include, but are not limited to: obtaining shareholder approval of the Share Consolidation, approval by the Board of the Share Consolidation and receiving acceptance from the TSX Venture Exchange for the Share Consolidation. 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.

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