Empire Industries Ltd.

Empire Industries Ltd.

October 18, 2010 19:19 ET

Empire Industries Not to Proceed With Proposed Private Placement

WINNIPEG, MANITOBA--(Marketwire - Oct. 18, 2010) -


Empire Industries Ltd. (TSX VENTURE:EIL) today announced that it has elected not to proceed with the private placement previously announced on September 1, 2010. The Company is considering other potential financing opportunities at this time.

About Empire Industries Ltd.

Empire Industries Ltd. is based primarily in western Canada, and operates in two market segments: Specialized Engineered Product Manufacturing and Steel Fabrication. It also participates in a strategic partnership in the industrial maintenance services sector through its equity stake in ACE Industrial Services, based in Fort McMurray. The Company's business operations are focused on the infrastructure, commercial and industrial construction marketplace of western Canada and select niche markets internationally. 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.

Caution Concerning Forward-Looking Statements

This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs, including statements regarding potential financing opportunities. 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 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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