Armada Gold Appoints New Director.TORONTO--(BUSINESS WIRE)--July 20, 1998--Armada Gold Corporat(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AAU AAU abbr. Amateur Athletic Union .) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AAU.) Armada Gold Corporation is pleased to announce the appointment of Mr. Geoff Donohue as a director of the Corporation. Mr. Donohue was for many years the Managing Partner of the Australian stockbroking firm of Eyres Reed, now a subsidiary of CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. , and brings significant financial and stockbroking experience to the Board. Mr. Marcus Randolph has also announced his retirement from the board with his intent to concentrate on his responsibilities as President of First Dynasty Mines Limited. The Corporation also announced that the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. has issued a receipt for the final prospectus of Armada Gold qualifying the distribution of 10,545,459 common shares issuable upon the conversion of $0.22 special warrants sold in March and April of 1998. Each special warrant entitles the holder to receive one common share, without further payment. The prospectus also qualifies 620,320 broker warrants issued to Levesque Beaubien Geoffrion Inc., the agent for the offering. The broker warrants are exercisable at $0.285 per common share, for a period of one year. The common shares and warrants have not been registered under the United Stated Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under such Act or unless and exemption from registration is available. Armada Gold holds a 100 percent interest in Balgold Limited, the company developing the Baley gold project in southeastern Russia, which contains more than 5 million ounces of gold in the Taseevskoe deposit. A supplementary study to the bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. feasibility study is expected shortly. Armada also has a 49 percent interest in the Erdmin copper project in Mongolia which is producing 10 tonnes of copper cathode per day. The Erdmin project is presently subject to a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. examining an expansion of the operation to 60 tonnes per day or 20,000 tonnes of copper cathode per annum. The common shares of Armada Gold are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Alberta Stock Exchange under the symbol AAU. United States S.E.C Exemption: 12g3-2(b) 82-3965.
CONTACT: Armada Gold Corporation
Ross Orr, 416/777-0878 or toll free
1-800-517-1119
or
Armada Gold Corporation
Chris Cory, 416/777-0878 or toll free
1-800-517-1119
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