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Empire will proceed to mail the Rights Certificates and begin the rights offering period after receiving SEC final approval.
Empire CEO Malcolm Bendall stated that with the Resale Registration statement existing outstanding shares and shares underlying existing warrants and liabilities can be traded to improve the collateral value of share holdings.
The Rights Offering will provide additional Funding for future exploration programmes and drilling of Empire's Bellevue and Thunderbolt well sites in Tasmania, Australia.
Empire's wholly owned subsidiary Great South Land Minerals Ltd will apply to Mineral Resources Tasmania for an license to explore under Tasmanian Legislation for the total area included in the current Special Exploration License 13/98 of approximately 15,000 sq km, as well as information of its financial resources to carry out the proposed work programme.
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