Armada Mercantile Ltd., (Symbol: CSE: ARM and OTC: AAMTF) today announces a non-brokered private placement (the “Private Placement”) pursuant to which it will issue common shares to raise gross proceeds of USD $315,250.00 for working capital purposes. Upon completion, the Private Placement shall consist of 1,087,068 common shares of the Company, representing approximately 5% of the 19,861,984 common shares issued and outstanding prior to the completion of the Private Placement, at a price of USD$0.29 per common share, which is above the closing price of the Company’s common shares on The Canadian Stock Exchange on December 31, 2024. Following completion of the Private Placement, the Company will have 20,949,052 common shares issued and outstanding.
For more information about Armada Mercantile Ltd., visit: www.armadamercantile.com.