Armory Mining arranges $500,000 private placement

Executive Summary

• Armory Mining Corp. announced a non‑brokered private placement of up to 9.09 million units at C$0.055 per unit, targeting gross proceeds of up to $500,000.
• Each unit consists of one common share and one transferable warrant allowing purchase of an additional share at C$0.085 for five years.
• Proceeds will be used for working capital and general corporate purposes; securities are subject to a four‑month hold period under Canadian securities regulations.

Key Details

• Offering size: Up to 9,090,000 units.
• Price per unit: C$0.055 (5.5 cents).
• Maximum gross proceeds: $500,000 CAD.
• Unit composition: 1 common share + 1 transferable common share purchase warrant.
• Warrant terms: Right to buy one additional common share at C$0.085 per share; exercisable for five years from issuance.
• Use of proceeds: Working capital and general corporate purposes.
• Holding period: Securities subject to a four‑month hold period in accordance with Canadian securities laws and CSE policies.

Notable Quotes

(No executive quotes were provided in the release.)