VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/10/13 -- On July 10, 2013, Junliang Xie, of 6625 - 8181 Cambie Road, Richmond, BC V6X 3X9, through a holding company, purchased 50,400,000 units ("Units") issued by Empire Industries Ltd. ("Empire") at a price of $0.05 per Unit (the "Offering"). Each Unit consists of one Common Share and one-half of one common share purchase warrant (a "Warrant") exercisable to purchase a Common Share at $0.10 per share for a period of five years from the date of issuance. Immediately following completion of the Offering, Mr. Xie had beneficial ownership of, and control and direction over, 50,400,000 Common Shares, or approximately 19.90% of the Common Shares outstanding.
Immediately following completion of the Offering Mr. Xie also had beneficial ownership of, and control and direction over, 25,200,000 Warrants. If the Warrants are all exercised, Mr. Xie would have beneficial ownership of, and control and direction over, 75,600,000 Common Shares, or approximately 22.99% of the Common Shares outstanding.
Mr. Xie acquired beneficial ownership of, and control and direction over, the Common Shares and Warrants that are the subject of this report for investment purposes and intends to review his investment in Empire on a continuing basis. Mr. Xie may in the future acquire ownership or control of further Common Shares.
Contacts:
Junliang Xie
6625 - 8181 Cambie Road
Richmond, BC V6X 3X9
