On May 5, 2017, Ta Chen Stainless Pipe Co., Ltd. (Ta Chen or Parent) completed its previously announced tender offer of all issued and outstanding shares of Empire Resources Inc.'s (the company" or Empire Resources) common stock, par value $0.01 per share. Pursuant to an Agreement and Plan of Merger, dated as of March 30, 2017, as amended on April 6, 2017, by and among Empire Resources, Parent and Ta Chen Investment Corporation (Sub), Sub intends to merge with and into the Company (the Merger), with the Company surviving the Merger as a wholly-owned subsidiary of Parent (the "Surviving Corporation") as soon as practicable. In connection with the Merger and at the Effective Time, each of the directors of the Company, no longer serve on the board of directors of the Company, each of its direct and indirect subsidiaries, if any, or on any board committees of which they were members. Pursuant to the Merger Agreement, at the Effective Time, Johnny Hsieh, the sole member of the board of directors of Sub immediately prior to the Effective Time shall become the sole director of the Surviving Corporation.