News Release

Armada Mercantile Ltd., through its wholly owned subsidiary Armada Group USA, Inc. (ArmadaUSA), has acquired 30% of the issued and outstanding common shares of Oxygen Funding, Inc. (“Oxygen Funding”). Oxygen Funding is a fully licensed trade finance lender (California Finance Lenders & Brokers license #603G957) that has been funding commercial businesses since 2007. Oxygen Funding provides capital to fund existing clients, purchase existing accounts receivable portfolios and finance new factoring opportunities sourced, underwritten and serviced by an in-house staff. Oxygen Funding is a primary provider of commercial financing solutions for all types of businesses offering a diverse set of business financing options to meet the needs of businesses including finance services such as accounts receivable financing, equipment financing, merchant cash advance, purchase order financing, and term loans. Oxygen Funding 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.
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