EIL Empire Industries Ltd

Empire Industries Ltd. (TSXV: EIL) today announced it has granted, under its stock option plan, incentive stock options to officers, employees, and consultants, for the purchase up to 2,870,000 common shares. The incentive stock options have an exercise price of $0.34, will expire by February 1, 2026 and are subject to TSX Venture Exchange approval.

About Empire Industries Ltd.

Empire provides strategic and financial leadership to its business units. Its core business is to conceptualize, design, manufacture and install iconic media-based attractions and ride systems for the global attraction industry. Empire leverages its proprietary ride systems with its experience to create unforgettable attractions in partnership with tourist operators to generate recurring profit. We apply these same unique capabilities to deliver innovative solutions to a diverse range of industries. The company was selected as a 2020 TSX Venture 50 company. The company trades on the TSXV:EIL.

For more information about the Company, visit empind.com or contact:

Guy NelsonChief Executive OfficerPhone: (416) 366-7977Email: gnelson@empind.com

Allan FrancisVice President – Corporate Affairs and AdministrationPhone: (204) 589-9301Email: afrancis@empind.com

Reader AdvisoryThis news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’ or similar expressions and includes suggestions of future outcomes, including statements about the TSX Venture Exchange approval of the stock option grant. These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward‐looking statements. Forward-looking information is provided as of the date of this press release, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.