Armistice raises project financing

Proceeds from a rights offering amount to about $1.1 million for Armistice Resources (ME), after commissions and expenses.

More than 7.2 million shares were bought at 18 cents per share in the over-subscribed offering.

The junior now intends to begin bulk sampling at its gold property adjoining the old Kerr Addison mine at Virginiatown, Ont. Further financing will be required.