VANCOUVER, Sept. 15, 2011 /CNW/ - (CNX:ARO) Les Kjosness, President & CEO is pleased to report it has arranged a non-brokered private placement, subject to
regulatory approval, of up to 5,000,000 units at a price of $0.095 per
unit, for a gross value of Cdn. $475,000. Each unit will consist of one
common share and one half share purchase warrant. One full warrant
entitles the holder to purchase an additional share of the Company at
an exercise price of $0.15 per share for a period of one year.
A finder's fee may be payable in connection with this non-brokered
Armadillo Resources' mandate is to acquire, explore and develop base and
precious metals properties throughout North and South America. Our
focus remains the Waverley-Tangier silver/lead/zinc property in BC and
we are also developing our Brazilian tenures which consist of
pproximately 1,370,368 hectares of 164 processos minerals (claims) in
the states of Amazonas, Mato Grosso and Rondonia.
On behalf of the Board,
President and Director
The CNSX has neither approved nor disapproved of the accuracy of this
release. This news release may contain forward-looking statements
including but not limited to comments regarding the timing and content
of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE Armadillo Resources Ltd.
For further information:
Les Kjosness: 604-408-6500
Kirsti Mattson: 778-434-2241 media