Mississauga, Ontario, December 19, 2012 – Armada Data Corporation (TSX.V: ARD) (the “Company” or “Armada”) is pleased to announce that it has closed a non-brokered private placement of 1,111,111 common shares at $0.09 per share for aggregate gross proceeds of $100,000.
The common shares issued are subject to a four month hold period from the date of the closing of the private placement.
The Company intends to use the proceeds from the private placement for working capital and general corporate purposes.
About Armada Data Corporation
Armada is a Canadian publicly traded Information & Marketing Services Company providing accurate and real-time data to institutional and retail customers, through developing, owning and operating automotive pricing-related web sites and providing information technology and marketing services to its clients. Armada’s information and marketing abilities have enabled the company to leverage that experience into the food and beverage industry by its acquisition of 90% of the issued and outstanding shares of The Big & Easy Bottle Brewing Company Inc. The Big & Easy Bottle Brewing Company Inc. owns 100% of Mister Beer Inc., which invented, produces and markets the unique “microbrewery in a bottle” beer-making kit.
Armada shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada currently has a total of 17,670,265 shares outstanding.
Additional information relating to Armada Data Corporation is filed on SEDAR, and can be viewed at www.sedar.com.
For further information, please contact:
Armada Data Corporation
Mr. James Matthews, Chief Executive Officer
Email: investors @ armadadata.com
This news release may contain forward-looking information within the meaning of Canadian securities laws. Forward-looking statements are based on estimates and assumptions made by Armada in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors Armada believes are appropriate. Many factors could cause the actual results to differ materially from those expressed or implied by the forward-looking statements. The closing of the private placement could be delayed if Armada is not able to obtain the necessary stock exchange approvals. Accordingly, there is a risk that the private placement will not be completed within the anticipated timeline or at all. The intended use of the net proceeds of the private placement by Armada may change if the board of directors of Armada determines that it would be in the best interests of Armada to deploy the proceeds for some other purpose. Readers should not place undue reliance on Armada’s forward-looking statements. Armada undertakes no obligation to update or revise any forward-looking information, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
