|May 17, 2010|
Company Completes First Tranche of Private Placement
|May 17, 2010 Vancouver, BC - (TSX.V-ARO) Les Kjosness, President & CEO, is pleased to announce that, subject to TSX Venture Exchange approval, the first tranche of the private placement announced April 20, 2010 for up to 3,000,000 units has closed. Each unit consists of one common share and one share purchase warrant. Phase One has completed 1,165,000 units with the remainder to be completed at a later date. A portion of Phase One is being completed with a member of the Board. The funds will be used for general corporate and administrative purposes. |
A finder's fee may be payable.
Armadillo Resources mandate is to acquire, explore and develop base and precious metals properties throughout North America and we continue to seek out other properties to add to our portfolio.
On behalf of the Board,
President and Director
For further information:
Les Kjosness: 604-681-8222
Kirsti Mattson: 604-202-2484 media
Neither the 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. 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.
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