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Armada Data Corporation announces changes to its Board of Directors

by Eli Oszlak on November 6, 2012

in Board of Directors,Press Releases

Mississauga, Ontario, November 6, 2012, – Armada Data Corporation (TSX.V: ARD) Armada Data Corporation announces changes to its Board of Directors.
On August 29, 2012, Stefan Riedelsheimer was appointed as a director of Armada Data Corporation.  Mr. Riedelsheimer was a 50% owner and operator of Mister Beer Inc. from 1991 to 2011.  He is now, and has been since the Company’s acquisition of Mister Beer Inc. in October 2011, the General Manager of Mister Beer Inc.

Armada Data Corporation also announces that, effective September 25, 2012, Michael Cooper has resigned from his position as director.  The Company would like to thank Mr. Cooper for his contributions to the Company and wish him all the best with his future endeavors.

Armada Data Corporation has obtained a $350,000 credit facility from its bank for use in the day-to-day operations of the Company, and to allow for the completion of the new premises for the Mister Beer Inc. division of the Company, which will permit increased production.  The credit facility provides for an interest rate at the bank’s prime rate plus 1.00% on the outstanding principal thereunder and is secured by way of a general security agreement over the Company.  The Company began drawing down on the credit facility on October 9, 2012 and as at the date hereof, there is $65,534 of principal outstanding under the credit facility.

About Armada Data Corp.

Armada Data is a Canadian publicly traded Information & Marketing Services Company providing accurate and real-time data to institutional and retail customers, through developing, owning and operating automotive pricing-related web sites and providing information technology and marketing services to its clients.  Armada’s information and marketing abilities have enabled the company to leverage that experience into the food and beverage industry by its acquisition of 90% of the issued and outstanding shares of The Big & Easy Bottle Brewing Company Inc.  The Big & Easy Bottle Brewing Company Inc. owns 100% of Mister Beer Inc., which invented, produces and markets the unique “microbrewery in a bottle” beer-making kit.

Armada Data shares are listed on the TSX Venture exchange under the trading Symbol ARD. Armada currently has a total of 16,559,154 shares outstanding.

Additional information relating to Armada Data Corporation is filed on SEDAR, and can be viewed at http://www.sedar.com.

Armada Data Corporation

Mr. James Matthews, CEO
TEL: 1-866-453-6995 ext. 225

E-mail:  jmatthews at armadadatacorp.ca

Website: www.armadadatacorp.ca

 

Neither 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 contains forward-looking information within the meaning of Canadian securities laws, including statements relating to revenue, earnings, customer demand, penetration and increases to market share and anticipated growth.  Forward-looking statements are based on estimates and assumptions made by Armada in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors Armada believes are appropriate.  Many factors could cause the actual results of Armada to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, reduced spending by customers and risks relating to general economic conditions.  Readers should not place undue reliance on Armada’s forward-looking statements.  Armada undertakes no obligation to update or revise any forward-looking information, except as required by law.

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