August 28, 2017 / 11:32 AM / a month ago

BRIEF-Empire Industries entered into letter of intent

Aug 28 (Reuters) - Empire Industries Ltd

* Has entered into a letter of intent to structure and capitalize $31 million of equity in co-venture attraction companies

* Empire Industries - to fund $12 million investment in DEGL private placement, intends to proceed with $5.1 million rights offering to shareholders

* Empire Industries - to fund $12 million investment in DEGL private placement, intends to proceed with $3 million private placement to EROL

* Empire Industries Ltd - co-venture attraction companies will partner with tourist-based locations at key tourist venues in North America and China

* To complete a rights offering for a maximum gross proceeds of $5.1 million Source text for Eikon: Further company coverage:

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