Armada Data Corporation announced that it has entered into a loan agreement to borrow up to a maximum of $200,000 from 2190960 Ontario Ltd. As security for the Loan, a general security agreement was entered into in favour of the Lender. The Loan bears interest at a rate of 12% per annum payable monthly from the applicable date of advance. The Loan matures on September 28, 2025.

Amounts shall be advanced during the term of the Loan in such amounts and at such times as requested by the Company, up to the maximum amount of $200,000. Amounts outstanding under the Loan will be represented by a grid promissory note issued by the Company in favour of the Lender. The Company intends to use the proceeds of the Loan for working capital and general and corporate purposes.

The Company intends to repay the Loan from operating cash flows.