TORONTO, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Empire Industries Ltd. (TSX-V: EIL) (“Empire” or the “Company”) today reported the voting results from its Annual and Special Meeting of shareholders held on October 17, 2018.

All of the six nominees proposed by management for election to the Board of Directors at the meeting and listed in the Company’s Management Information Circular dated September 18, 2018 were elected. The Directors will remain in office until the next annual meeting of shareholders, or until their successors are elected or appointed.

The results of the vote on the election of the Board of Directors are as follows:

Additionally, resolutions approving the following additional matters were passed at the meeting:

• Fixing the number of directors to be elected at six (6): passed with 100% of votes cast in favour.
• Appointing MNP LLP as auditors of the Company: passed with 100% of votes cast in favour.
• Authorizing a name change of the Company from Empire Industries Ltd. to Dynamic Empire Inc.: passed with over 99% of votes cast in favour.
• Approval of Company’s Stock Option Plan: passed with over 99% of votes cast in favour.

“We are delighted by the strong support shown by our shareholders,” said Guy Nelson, Executive Chairman and Chief Executive Officer. “The request for approval of changing our name from Empire industries to Dynamic Empire more closely aligns the company with its industry-leading branding and product line. As discussed at the Annual Meeting, the company is continuing its emphasis on bottom line performance, on the back of significant operational improvements begun earlier this year. We remain bullish on our co-venture initiative, the strategy of owning and operating our own rides, thus generating long-term, stable, recurring revenues. We are also proud of our compelling value proposition but are working hard on seeing this manifest itself in share appreciation.”

Mr. Nelson gave a presentation about the company after the formal business portion of the meeting was completed. The presentation and Company video can be viewed on the company’s website at empind.com.

About Empire Industries Ltd.
Empire focuses on designing, supplying, and installing premium rides and attractions for the global theme park and tourism industries. Empire also uses these same turn-key integration services for special projects such as large optical telescopes and enclosures. Through Empire’s execution of its strategy over the years, Empire also owns several non-entertainment investments, such as its equity holding in Tornado Global Hydrovacs Ltd. Empire’s common shares are listed on the TSX Venture Exchange under the symbol EIL.

For more information about the Company, visit empind.com or contact:

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.