Empress Resources Corp. (‘Empress') and Alto Ventures Ltd. (‘Alto') announced they have executed a definitive agreement for a business combination which is to be effected pursuant to an arrangement under the Business Corporation Act. Empress will be acquired by Alto, and former Empress shareholders will hold 52% of the issued and outstanding shares of the combined entity (‘New Alto').

New Alto's Board of Directors will consist of Rick Mazur, Mike Bandrowski and three nominees of Empress. New Alto's CEO will be Mike Bandrowski and Mike Koziol will remain on the Advisory Board.