11:30 AM EST - Empress Resources Corp. : And Alto Ventures Ltd have entered into a non-binding letter agreement for a proposed business combination. Pursuant to the Transaction, Alto will acquire all the issued and outstanding common shares of Empress from their holders on the basis of one common share of Alto being exchanged for each common share of Empress. The combination of Alto and Empress will create a well-funded exploration-focused company which will hold the mineral properties currently held by Alto. Alto will undergo a 5:1 share consolidation effective upon closing of the Transaction.As part of the Transaction, Empress will spin off a new company with each Empress shareholder receiving one share of New Empress for every Empress share held. New Empress will acquire up to 10 royalties and marketable securities from Alto and in exchange, Alto shareholders will receive one share of New Empress for every Alto share held. Empress Resources Corp.
shares V.EMPX are trading unchanged at $0.03.
