RICHMOND, British Columbia, Feb. 08, 2019 (GLOBE NEWSWIRE) -- On February 8, 2019, Canada Zhoufa Agricultural Holding Company Limited (“Canada Zhoufa”) of 6625 - 818 Cambie Road, Richmond, BC V6X 3X9 disposed of 2,700,000 common shares (“Common Shares”) of Empire Industries Ltd. (“Empire” or the “Company”) via trades carried out through the facilities of the TSX Venture Exchange at a sale price of $0.315 per Common Share, for aggregate proceeds of CAD$850,000 (the “Transaction”).

Prior to the Transaction, Canada Zhoufa owned or controlled a total of 16,492,875 Common Shares of Empire, representing approximately 16.0% of the issued and outstanding Common Shares of Empire.  Upon completion of the Transaction, Canada Zhoufa has ownership or control over a total of 13,792,875 Common Shares, representing approximately 13.4% of the issued and outstanding Common Shares of Empire. 

The Common Shares of Empire have been sold for investment and business planning purposes.  In accordance with applicable securities laws, Canada Zhoufa may, from time to time and at any time, directly or otherwise, acquire additional Common Shares of Empire and reserves the right to dispose of any or all of the Common Shares of Empire in accordance with applicable securities laws depending on market conditions, the business and prospects of Empire and other relevant factors.

Empire’s head office address is 717 Jarvis Avenue, Winnipeg, Manitoba R2W 3B4.

About Canada Zhoufa

Canada Zhoufa is an investment holding company of Junliang Xie.

A copy of Canada Zhoufa’s full early warning report will be filed and publicly available on SEDAR (www.sedar.com).  For more information about Canada Zhoufa and/or to obtain a copy of the full early warning report, please contact:

Junliang Xie
Director
Phone: 604 821 6383
Email:  info.canadazhoufa@gmail.com

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.