With the official announcement by OTC Markets on January 17, Empire Diversified Energy Corporation (OTCQB: MPIR) was officially uplisted from a “Pink Sheet” listing to a fully-audited company on the OTCQB.
The elevated status enabled Empire Diversified to finalize several components of Phase I of its business plan:
- Empire agreed to a schedule of financing terms, and made a cash deposit for its first asset acquisition—the DTE Dickerson site in Cadiz, Ohio.The site is a formerly operating coal mine, with approximately 3 million tons of refuse coal on-site.Once thought to be refuse, the coal “fines” will now be “screened” and sold in the currently surging coal market;
- Empire has received a binding purchase order from Red Hill Resources LLC (Kentucky) for up to 20,000 tons of this material per month;
- Empire has purchased and has taken delivery of all the necessary heavy equipment, and has built out the regulatory infrastructure, and the human services necessary for employees at the site;
Frank Rosso, the company Chief Executive Officer, has indicated that the operations at the Cadiz, Ohio is now underway. Mr. Rosso added “We have moved the company forward with all deliberate speed and believe we now have sustainability in that we have created an entity that can capitalize immediately on the current energy environment and at the same time create an environment that addresses the future needs of the industry.”
Mr. Rosso went on to announce that Empire is also in the final stages of securing a $10 million dollar credit facility with a private hedge fund to facilitate the Company’s acquisition strategy.
The Company’s immediate plan is to identify and acquire renewable and green energy companies and/or assets to enhance the country’s green power generation industry.
Statements contained in this communication that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected, or described pursuant to similar expressions.
Contact: Frank Rosso
Empire Diversified Energy, Inc.