The private placement raised gross proceeds of $3,320,280.30.

Each Unit is comprised of one common share of the Corporation and one-half of one Common Share purchase warrant. Each FT Unit is comprised of one Common Share issued on a flow-through basis and one-half of one Warrant. Each Warrant will be exercisable into one Common Share at an exercise price of $1.00 per Common Share for a period of 18 months from closing. The Warrant term will be subject to acceleration if, after four months and a day after closing, the closing price of the Common Shares is equal to or exceeds $1.15 for 30 consecutive trading days.

D&D received a cash commission equal to 7% of the gross proceeds of the offering. D&D also received broker's warrants exercisable into that number of Common Shares equal to 10% of the aggregate number of Units and FT Units sold in the offering. Each broker's warrant will be exercisable to acquire one Common Share at a price of $0.70 per share for a period of 18 months after closing.

Armistice intends to use the net proceeds of the FT Units portion of the offering for underground exploration at its McGarry project. The net proceeds of the Unit portion of the offering will be used for exploration, general corporate purposes and working capital.

Armistice is a Canadian exploration company that owns an advanced exploration underground gold project in North-eastern Ontario located on the prolific Larder Lake break. The McGarry project consists of 34 contiguous patented mining claims and licences of occupation totaling 484 hectares which adjoins the former producing Kerr Addison gold mine which produced in excess of 11 million ounces of gold. Underground drilling and bulk sampling is currently underway. -- www.cnxmarketlink.com