Empire Industries Ltd.

Empire Industries Ltd.

February 18, 2016 07:00 ET

Empire Industries Engages Oak Hill Advisors

WINNIPEG, MANITOBA--(Marketwired - Feb. 18, 2016) - Empire Industries Ltd. (TSX VENTURE:EIL) today announced that it has engaged Oak Hill Advisors Inc. to provide investor relations services. The objective of the services is to assist Empire in developing and executing a comprehensive corporate communications strategy, informing market participants regarding Empire's business results, growth strategy, strategic transactions, and new contracts as they arise. The program is expected to last for an initial term of 6 months, renewing for successive 6 month terms unless terminated by either party. It is expected to cost approximately $6,000 per month. Oak Hill Advisors shall be awarded 100,000 stock options with an exercise price of $0.08, with a term of 5 years, vesting 25% quarterly over the first 12 months. Other than this, Oak Hill Advisors has no interest in Empire securities and has no right or intent to acquire such an interest. The engagement and the stock option issue are both subject to regulatory approval.

About Oak Hill Advisors Inc.

Oak Hill Advisors Inc. is a Toronto-based advisory services arm of Oak Hill Financial, providing advisory and distribution services to investment managers and corporate issuers. For more information, visit www.oakhilladvisors.ca.

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.

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". 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.

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