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Dynamic Technologies Group Inc - Class A ERILF

Empire Industries Ltd designs, fabricates, manufactures, erects and sells proprietary engineered products internationally. It operates in the segments of Ride-Systems Manufacturing, Parts & Service and Corporate & Other segments. These include Design and manufacture complex ride systems, Provider of parts and maintenance services to existing ride systems. The group operates its activities internationally.


OTCPK:ERILF - Post by User

Post by Blaser2on Nov 25, 2019 6:14pm
218 Views
Post# 30391109

ConFidence Abounds

ConFidence Abounds

The Board has appointed James Chui to serve as Non-Executive Chairman of Empire, effective immediately.  Mr. Chui has been a director of Empire since 2017.  He is the Chairman and CEO of Excellence Raise Overseas Limited (“EROL”), which owns 19.9% of Empire’s common shares.  EROL has agreed to advance an unsecured loan to Empire as described below.  Mr. Chui is also President of Jolly Admire Limited (“Jolly Admire”) which has agreed to sell its 26.5% stake in Dynamic Entertainment Group Ltd. to Empire in exchange for convertible preferred shares of Empire, as previously announced in the Company’s news release dated November 14, 2019.  He is also a director of Tornado Global Hydrovacs Ltd. (TSXV: TGH) and was instrumental in arranging the private placement financing that led to the spinout of Tornado from Empire.

“We are thrilled that James is taking on the Non-Executive Chairman role,” said Guy Nelson.  “James’ connections in the business and financial markets have been invaluable to Empire, and we look forward to continuing to benefit from his association with Empire.”

Unsecured Related Party Loan

EROL has agreed to advance Empire $2,000,000 unsecured loan (the “EROL Loan”). 

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