Financing Progresses, Sure Fund Issues up to USD$180 Million in Principally Protected Notes in Favor of Empire's 12 Hole Drilling Program
Empire has additionally engaged the services of a private firm to organize and manage Empire's application for listing on the National Market System. The Company anticipates being listed on the full NASDAQ shortly.
An unexpected number of eligible shareholders worldwide took up additional shares while CEO Malcolm Bendall honored his prior pledge to purchase all unsubscribed shares at the closing of the 2nd round. In the 2nd round Mr. Bendall converted $5,845,453.18 of personally held Empire Energy debt into equity shares at a price of 7 cents per share.
Empire is advancing with the commercialization of the proprietary flare gas technology for which it has access to. Details regarding a USD$300 million investment in the technology will be forthcoming."
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