Empress Resources Corp. ("Empress") and Alto Ventures Ltd. ("Alto") are announced that their previously announced merger (the "Arrangement") has closed. Effective at the close of business on July 7, 2020 Empress will be delisted from the TSX Venture Exchange as a result of the Arrangement. In addition, Empress Shareholders received approximately 0.08 of a common share of a new precious metals royalty and streaming investment company, Empress Royalty Corp. ("Empress Royalty"), in respect of each Empress Share held (each, a "Spinco Share"). Alto shareholders of record on July 2, 2020 will also receive 0.4 of a Spinco Share by way of a dividend distribution. Empress Royalty's board of directors will include Alexandra Woodyer Sherron (President and CEO), David Rhodes, Jeremy Bond, Paul Mainwaring, Richard Mazur and Wes Roberts.