VANCOUVER, July 25, 2016 /CNW/ - Armor Minerals Inc. (TSX-V:
A) ("Armor" or the "Company") is pleased to announce it has closed
the previously announced non-brokered private placement of
5,000,000 units at a price of $0.20
per unit for gross proceeds of $1,000,000 (the "Private Placement"). Each unit
consists of one common share and one half of one common share
purchase warrant. Each whole common share purchase warrant is
convertible into one common share of the Company at a price of
$0.40 for a period of 5 years.
Proceeds from the financing will be used for follow-up
exploration on the recently announced drill results at the
Warmister Project located in Buckingham,
Virginia and for general working capital purposes.
As required under securities regulations, the securities issued
through this transaction are subject to a hold period expiring
November 26, 2016.
About Armor
Armor is a Canadian company engaged in the acquisition and
exploration of mineral property interests. On October 28, 2015, the Company signed a definitive
Earn-in Agreement with Jack's Fork Exploration, Inc. ("Jack's
Fork") to acquire up to an 80% joint venture interest in the
Warmister and Tower Hill gold
properties located in Virginia,
USA. Jack's Fork is currently the holder of certain mineral
leases covering the Properties. Armor Minerals Inc. trades on the
TSX Venture Exchange under the symbol "A".
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward Looking Statements
Certain information in this news release, including any
information relating to the statements regarding future
expectations, beliefs, goals or prospects, constitute
forward-looking information within the meaning of applicable
securities legislation (collectively, "forward-looking
statements"). All statements in this news release that are not
statements of historical fact (including statements containing the
words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "potential" and similar expressions) should be
considered forward-looking statements. All such forward-looking
statements are subject to important risk factors and uncertainties,
many of which are beyond Armor's ability to control or predict. A
number of important factors could cause actual results or events to
differ materially from those indicated or implied by such
forward-looking statements, including, without limitation, risks
related to exploration; uncertainties related to financings; the
uncertainties of interpreting exploration results and the other
risks associated with being a mineral exploration company.
Armor disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law. Additional information identifying
risks and uncertainties is contained in Armor's most recent annual
and quarterly financial reports which are available online at
www.sedar.com. Forward-looking statements are provided for the
purpose of providing information about the current expectations,
beliefs and plans of the management of Armor relating to the
future. Readers are cautioned that such statements may not be
appropriate for other purposes. Readers are also cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this communication.
SOURCE Armor Minerals Inc