09:55 AM EST - Empire Industries Ltd. : Announced its proposal to complete transactions whereby Empire will spin out to a new corporation, its wholly-owned hydrovac business including all of the tangible and intangible assets, employees and operations of Tornado Trucks, a division of Empire. Empire also announces that today, SpinCo has closed a private placement of subscription receipts for aggregate gross proceeds of $3,521,127 U.S. (approximately $5,000,000) and expects to close a second private placement of subscription receipts for aggregate gross proceeds of $2,500,000. Empire Industries Ltd.
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