News Release
May 8, 2019
TRADE SYMBOL: ARM – Canadian Stock Exchange
TRADE SYMBOL: AAMTF – OTC Markets
Armada Mercantile Ltd. (“Armada”) has completed the launch of Empire Factors LLC (“Empire Factors”) a commercial finance company located in New York City. Empire Factors plans to expand its nationwide finance business with special emphasis on the New York and New Jersey marketplace. The management team of Empire Factors is comprised of individuals with solid backgrounds in marketing businesses, capital formation to fund transactions, underwriting transactions and on-going servicing of client accounts.
About Empire Factors: Empire Factors is a bonded licensed finance lender in New York and New Jersey that provides funding to commercial businesses Nationwide. Empire Factors is a primary provider of commercial financing solutions for all types of businesses, offering a diverse set of business financing options. As a direct funder, and in conjunction with key affiliates, Empire Factors offers accounts receivable financing, supply chain financing, equipment leasing and revenue lines of credit. Empire Factors plans to (1) grow its client originations and deal flow, (2) expand underwriting and servicing of clients, (3) increase capital to direct fund clients, and (4) build the client portfolio through potential acquisitions. For more information on Empire Factors, please visit: www.empirefactors.com.
In conjunction and synergistically, Armada currently has ownership in Oxygen Funding, Inc., a fully licensed California finance lender that has exponentially grown its book of client business from approximately $500,000 to over $4,000,000 in financed accounts since February 2018. Oxygen Funding, Inc. is on track to generate record fees in 2019 by providing account receivables finance, supply chain finance and revenue lines of credit.
For more information on Armada Mercantile Ltd., visit: www.armadamercantile.com.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release. The risks and uncertainties discussed in documents filed by the Company with the British Columbia, Alberta and Ontario Securities Commissions.