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Armory Mining Corp (CSE:ARMY, OTC:RMRYF) has initiated a comprehensive data compilation and multispectral antimony-gold exploration program at its Ammo Property in Nova Scotia. The company has contracted Avant Exploration to compile geological, geophysical, and geochemical data to create a GIS database and proprietary maps.
The program includes analysis of multispectral satellite imagery from multiple sources to identify new exploration targets. The 3,092-hectare property is located adjacent to the historical West Gore antimony-gold mine, which operated from the 1880s to 1917.
Additionally, the company announced plans to settle $50,000 in debt through the issuance of 333,333 common shares at $0.15 per share. The company has also granted 100,000 stock options at $0.17 per share and 2,550,000 RSUs to a director and consultants.
Armory Mining Corp (CSE:ARMY, OTC:RMRYF) has provided a corporate update on its mineral exploration portfolio focused on critical minerals for energy, security, and defense sectors. The company's key assets include:
- The Ammo Project: A 3,000-ha gold-antimony prospect in Nova Scotia, where the company plans to conduct a Multispectral Survey
- The Riley Creek: A 100%-owned antimony-gold prospect in Haida Gwaii, BC, currently preparing a 43-101 Technical Report
- The Kaslo Silver Project: A 3,239-ha property in BC's Slocan Mining Division with historic silver production
- The Candella II Lithium Project in Argentina's Lithium Triangle, optioned to American Salars
The company plans to conduct exploration programs at its antimony prospects in H1 2025. Additionally, Armory has engaged MIC Marketing for marketing services with a €250,000 budget over six months starting February 5, 2025.
Armory Mining Corp (CSE:ARMY)(OTC:RMRYF)(FRA:2JS) has announced significant management changes. Alex Klenman has been appointed as the new Chief Executive Officer, replacing Nader Vatanchi, who has resigned from his positions as CEO and director. Additionally, director Aaron Wong has also stepped down.
Klenman brings over 30 years of experience in private and public sectors, specializing in business development, marketing, finance, media, and corporate communications. He currently holds leadership positions in several publicly traded resource companies, including Leocor Mining, Terra Clean Energy, Arbor Metals, and Azincourt Energy.
The new CEO expressed enthusiasm about working with Chairman Arjun Grewal and highlighted the company's strategic focus on exploration for defense, energy, and security-related materials.
Armory Mining Corp (CSE:ARMY, OTC:RMRYF, FRA:2JS) has completed its non-brokered private placement LIFE offering, raising $677,175 through the issuance of 5,016,111 common shares at $0.135 per share.
As part of the offering, the company paid $65,017 in cash finder's fees and issued 481,611 finder's warrants exercisable at $0.135 per share until January 22, 2029. Additionally, 370,500 finder's shares and 700,000 common shares were issued as compensation for advisory services.
The proceeds will fund exploration work at the Kaslo Silver project and the Nova Scotia Ammo Project, along with working capital and general corporate purposes. Shares issued under the listed issuer financing exemption will not be subject to a hold period under Canadian securities laws.
Armory Mining Corp (CSE:ARMY, OTC:RMRYF) has announced a non-brokered private placement LIFE offering aiming to raise between $500,000 and $680,000 through the issuance of 3,703,703 to 5,037,037 common shares at $0.135 per share. The company may pay finder's fees of up to 10% in cash, shares, and warrants.
Proceeds will fund exploration work on the Kaslo Silver project and Nova Scotia Ammo Project, along with working capital needs. The offering is expected to close around January 10, 2025. Additionally, the company appointed Arjun Grewal as director and Chairman, bringing over 20 years of military and defence technology experience, including service in Canadian Special Operations Command and leadership roles at IBM.
Armory Mining Corp (CSE:ARMY, OTC:RMRYF) has completed a non-brokered private placement, raising $500,000 through the issuance of 5,000,000 units at $0.10 per unit. Each unit consists of one common share and half of a transferrable warrant. Each whole warrant allows purchase of an additional common share at $0.20 until December 18, 2029, with an acceleration clause if shares trade at $0.30+ for 10 consecutive days.
The company paid $4,725 in finder's fees and issued 47,250 finder's warrants exercisable at $0.20 until December 18, 2026. Proceeds will fund exploration at the Kaslo Silver project and Nova Scotia property, plus working capital. Securities have a four-month hold period until April 19, 2025.
Armory Mining Corp (CSE:ARMY, OTC:RMRYF) has completed three significant corporate actions: First, the acquisition of Antimony Assets Inc. through a share exchange of 4,975,000 common shares at $0.0675 per share. Antimony holds interests in two mineral claims covering 3,550 hectares in Haida Gwaii, BC. Second, the company announced a private placement offering of up to 12.5 million units at $0.10 per unit, aiming to raise up to $1.25 million for exploration work and working capital. Lastly, the company completed its name change from Spey Resources Corp. to Armory Mining Corp., with new trading symbols ARMY on CSE and RMRYF on OTC.
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