Armory Mining Corp. Closes Share Exchange with Antimony Assets Inc., Announces Private Placement of Units and Completes Name Change
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Armory Mining Corp. Closes Share Exchange with Antimony Assets Inc.,
Announces Private Placement of Units and Completes Name Change
Vancouver, B.C. – November 19, 2024 ‐ Armory Mining Corp. (CSE:ARMY) (OTC:RMRYF) (FRA:
2JS) (the “Company” or “Armory”) (formerly Spey Resources Corp.) is pleased to announce, further
to its news release dated November 9, 2024, that it has completed the acquisition of Antimony Assets
Inc. (“Antimony”) pursuant to a share exchange agreement dated November 8 , 2024 among the
Company, Antimony, and the shareholders of Antimony (the “ Shareholders”). The Company
completed the acquisition from the Shareholders of all of the issued and outstanding common shares of
Antimony in exchange for the issuance by the Company to the Shareholders of 4,975,000 common
shares of the Company at a deemed price of $0.0675 (the “Consideration Shares”) per common share.
Antimony is a privately held arm’s length party, incorporated in British Columbia that holds an interest
in two mineral claims covering 3,550 hectares located in Haida Gwaii, British Columbia.
The Consideration Shares have been issued pursuant to an exemption from the prospectus requirements
under applicable securities laws pursuant to Section 2.16 of National Instrument 45 -106 and are free
trading.
Private Placement
The Company is also pleased to announce a non -brokered private placement offering of up to
12,500,000 units (the “ Units”) at a price of $0.10 per Unit for aggregate gross proceeds of up to
$1,250,000 (the “Offering”).
The Warrants will be subject to an acceleration right held by the Company, such that if the share price
closes at $0.30 or above for a period of 10 consecutive trading days, the Company may, at any time
after such an occurrence, give written notice (via news release) to the holders of the Warrants that the
Warrants will expire at 5:00 p.m. (Vancouver time) on the 30th day following the giving of notice
unless exercised by the holders prior to such date. Upon receipt of such notice, the holders of the
Warrants will have 30 days to exercise their Warrants and any Warrants that remain unexercised will
expire.
The Company may pay finder’s fees to eligible finders in connection with the Offering.
The proceeds raised from the Offering are expected to be used for exploration work on the Kaslo Silver
project and the Nova Scotia property, working capital and general corporate purposes. All securities to
be issued under the Offering will be subject to a four month hold period in accordance with applicable
Canadian securities laws.
The securities offered have not been and will not be registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United States absent registration or applicable
exemption from the registration requirements. This news release does not constitute an offer to sell or
the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such province, state or jurisdiction.
Name Change
Further to the Company’s news release dated November 9, 2024, the Company has completed its name
change from “Spey Resources Corp.” to “Armory Mining Corp.” The trading symbol on the CSE has
changed to “ARMY” and the trading symbol on the OTC has changed to “RMRYF”. The new CUSIP
is 042279109 and the new ISIN is CA0422791099.
About Armory Mining
Armory Mining Corp. is a Canadian lithium focused mineral exploration company which has an 80%
interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina.
Armory also holds a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia, a 100%
interest in certain mineral claims located in Haida Gwaii, British Columbia and an option to acquire a
100% interest in certain mineral claims located in Nova Scotia.
FOR FURTHER INFORMATION CONTACT:
Nader Vatanchi
CEO, Director
p: 778-881-4631
Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of
this news release.
Certain information contained herein constitutes “forward -looking information” under Canadian
securities legislation. Forward -looking information includes, but is not limited to: the Company
completing the Offering; the size of the Offering, the intended use of funds, and the acceleration of the
expiry date of the Warrants. Generally, forward -looking information can be identified by the use of
forward-looking terminology such as “anticipates”, “anticipated” “expect ed” “intends” “will” or
variations of such words and phrases or statements that certain actions, events or results “will” occur.
Forward-looking statements are based on the opinions and estimates of management as of the date such
statements are made and they are from those expressed or implied by such forward -looking statements
or forward -looking information subject to known and unknown risks, uncertainties and other factors
that may cause the actual results to be materially different, including receipt of all necessary regulatory
approvals. Although management of the Company have attempted to identify important factors that
could cause actual results to differ materially from those contained in forward -looking statements or
forward-looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward -looking statements and forward -
looking information. The Company will not update any forward -looking statements or forward -looking
information that are incorporated by reference herein, except as required by applicable securities laws.