Empire Diversified Energy Closes $13,100,000 of Bridge Financing to begin Development of a Solid Waste Recycling Facility
Empire Diversified Energy Corporation (MPIR) has successfully obtained a $13,100,000 bridge loan from Principal Street Partners to fund its Solid Waste Recycling Plant in Follansbee, WV. This loan is set to mature on February 1, 2022. The company plans to initiate the engineering and permitting phase for the construction of the plant shortly. CEO Frank Rosso expressed his satisfaction with the completion of the loan, allowing the team to progress towards construction.
- Secured a $13,100,000 bridge loan for funding.
- Initiation of engineering and permitting phase for the recycling plant.
- The bridge loan matures on February 1, 2022, introducing potential financial pressure.
FORT LAUDERDALE, Fla., Feb. 17, 2021 /PRNewswire/ -- Empire Diversified Energy Corporation (OTCQB:MPIR) announced today that it has closed on a
Empire Diversified Energy Inc. intends to begin the engineering and permitting phase for the construction of the recycling plant, which is located adjacent to the Empire Trimodal Terminal, beginning sometime this month.
Commenting on the transaction, Empire's C.E.O. Mr. Frank Rosso said, "I'm very happy to report that this bridge loan has been completed and now our team can focus on the construction phase of the recycling plant."
About Empire Diversified Energy, Inc.
Empire Diversified Energy, Inc. is a full-service company offering logistic and service solutions to the dynamic changing needs of the energy industry. The Company's goal, based on years of demonstrable experience, is to develop a network of logistics and storage facilities to promote international sales of petrochemicals.
Statements contained in this communication that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements, including our intent to begin the engineering and permitting phase of the recycling plant construction project s, 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.
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SOURCE Empire Diversified Energy Inc.
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