Empire Mining Corporation
TSX VENTURE : EPC.P

Empire Mining Corporation

October 31, 2005 09:00 ET

Empire Mining Corporation to Trade on TSX-V on October 31, 2005

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2005) - Empire Mining Corporation (the "Corporation") (TSX VENTURE:EPC.P), a capital pool company incorporated under the laws of British Columbia, is pleased to announce that its prospectus dated October 4, 2005 has been filed and accepted by the TSX Venture Exchange (the "Exchange") and the British Columbia, Alberta and Ontario securities commissions, effective October 6, 2005.

The Corporation has completed its initial public offering by issuing 2,500,000 common shares at a price of $0.10 per share for gross proceeds of $250,000. Graydon Elliott Capital Corporation acted as the sponsoring member and as the agent (the "Agent") for the offering. In connection with the offering, the Agent received a cash commission of $25,000, an agent's option to purchase 250,000 common shares at a price of $0.10 per share exercisable for a period of twenty-four months expiring October 31, 2007 and a sponsorship fee of $20,000. The net proceeds of the offering will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the capital pool polices of the Exchange.

The common shares of the Corporation will commence trading on the Exchange on Monday, October 31, 2005 under the trading symbol of "EPC.P". The Corporation's Transfer Agent is Computershare Investor Services Inc. and its CUSIP number is 291879 10 4.

The Corporation also granted incentive stock options to its directors, officers and consultants to purchase up to an aggregate of 660,000 common shares at a price of $0.10 per common shares for a five year term expiring October 04, 2010.

The Corporation is authorized to issue an unlimited number of common shares with no par value. A total of 4,200,001 previously issued and outstanding common shares of the Corporation were placed in escrow in accordance with the policies of the Exchange. The total number of issued and outstanding common shares following completion of the offering will be 6,700,001 common shares.

The current directors and officers of the Corporation are: Robert Giustra, President, CEO, CFO and Director, Kenneth Judge, Chairman and Director, John Prochnau, Director and Robert Anderson, Director.

For further information, please refer to the company's prospectus dated Oct. 04, 2005.

ON BEHALF OF THE BOARD

Robert F. Giustra, President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Empire Mining Corporation
    Robert F. Giustra
    President & CEO
    Cell: (604) 418-6560