Zero Nox, Inc. (“ZeroNox”) an affiliated (approximately 8% with a valuation of $14,300,000 or .74 cents per share) ownership portfolio company of Armada Mercantile Ltd., (“Armada” CSE: ARM) has completed US$6.2MM of a $15MM capital raise. The completed amount is significant as it represents ample capital to purchase inventory to achieve 2022 financial projections. ZeroNox is conducting a fourth round of funding in the amount of US$15,000,000 through a Reg. D 506 offering priced at US$10.00 per share. ZeroNox has started the process of interviewing SPAC merger candidates in the past month. Armada is assisting ZeroNox in the process of going public by way of an IPO or merger with a special purpose vehicle or “SPAC”.
Zero Nox is headquartered in Porterville, California. They design, engineer, develop, sell and provide after-market support for Off-Highway Electric Vehicle (“OHEV”) Powertrain Systems and Microgrids. The Technology is currently being used in forklifts, hospitality carts, utility vehicles, and battery systems. ZeroNox plans to be a leader in OHEV Powertrains and Microgrids, due to its proprietary electric Powertrain Systems, which include ZeroNox lithium batteries, battery management systems, electric Genmotors, Thermal Energy Conversion Systems, and in-house telematics. The Zero Nox line product lines offers Battery Upgrades, EV Conversions, EV Powered by Zero Nox, Evault Microgrids, Port Initiatives and School Initiatives.
For more information about Zero Nox, Inc. visit: www.zeronox.com.
For more information pertaining to Armada Mercantile Ltd., visit: www.armadamercantile.com.