Empire Industries Announces Voting Results from AGM, Changes to Board and Committees Composition

WINNIPEG, Manitoba, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Empire Industries Ltd. (TSX-V: EIL) (“Empire” or the “Company”) today announced changes to the composition of its board of directors, arising from its Annual General and Special Meeting of Shareholders held yesterday.

“I am pleased to welcome our new director, Guy Dietrich, to the Board,” said Guy Nelson, Executive Chairman and Chief Executive Officer. “Mr. Dietrich’s skills and experience in financing will provide the Board with significant depth as we continue our transition to a recurring revenue co-venture business model.”

Mr. Dietrich is a Senior Advisor to Rockefeller Capital Management, after having served as its Managing Director since June 2018. Prior to that, he has 35 years of experience serving as Managing Director in Wealth Management at UBS and Morgan Stanley. Mr. Dietrich was a Fellow, Advanced Leadership Initiative, Harvard University in 2013, and holds a BA in Government from Dartmouth College. He is based in New York City.

Voting Results

The shareholders re-elected four (4) directors to the board at the meeting: Guy Nelson, Terry Quinn, Bob Marshall and James Chui and elected one (1) additional director, Guy Dietrich, for a total of five (5) directors.

The results of the vote on the election of the Board of Directors are as follows:

	Votes In Favour			Votes Withheld
Guy Nelson	75,912,015	97.2%		2,160,214	2.8%
Robert Marshall	77,803,020	99.7%		269,209	0.3%
Terry Quinn	77,803,020	99.7%		269,209	0.3%
James Chui	77,980,834	99.9%		91,395	0.1%
Guy Dietrich	77,980,834	99.9%		91,395	0.1%

Additionally, resolutions approving the following additional matters were passed at the meeting:

• Fixing the number of directors to be elected at five (5): passed with over 99.6% of votes cast in favour.
• Appointing Grant Thornton LLP as auditors of the Company: passed with over 99.9% of votes cast in favour.
• Approval of Company’s Stock Option Plan: passed with over 99.9% of votes cast in favour.
• Authorization to change the name of the Company from Empire Industries Ltd. to Dynamic Technologies Group Inc.: passed with over 99.8% of votes cast in favour.

Mr. Nelson gave a presentation about the company after the formal business portion of the meeting was completed. The presentation and Company video can be viewed on the company’s website at empind.com.