Effective at the close of business, Wednesday, Oct. 30, 2024, the common shares of Armada Data Corp. will be delisted from the TSX Venture Exchange. The delisting of Armada's shares results from an amalgamation between Armada and 1498798 B.C. Ltd., a newly incorporated wholly owned corporation of non-arm's-length parties of Armada, pursuant to Division 2 of Part 8 of the Business Corporations Act (British Columbia).

Under the terms of the amalgamation, all of the issued and outstanding common shares of Armada, other than those already held by acquiror parent group, were converted, on a one-for-one basis, into redeemable preferred shares of the amalgamated corporation (Amalco). The redeemable shares were then immediately redeemed by Amalco in exchange for four cents per redeemable share, payable in cash. Armada obtained shareholder approval for the amalgamation at the shareholders meeting held on Oct. 28, 2024.

As a result of the amalgamation, Amalco is wholly owned by acquiror parent group.

For further details, please refer to Armada's information circular dated Sept. 25, 2024, and its news releases dated Sept. 4, 2024, Oct. 28, 2024, and Oct. 29, 2024.