Armory Mining Corp Announces Management Changes

Rhea-AI Summary

Armory Mining Corp (CSE:ARMY)(OTC:RMRYF)(FRA:2JS) has announced significant management changes. Alex Klenman has been appointed as the new Chief Executive Officer, replacing Nader Vatanchi, who has resigned from his positions as CEO and director. Additionally, director Aaron Wong has also stepped down.

Klenman brings over 30 years of experience in private and public sectors, specializing in business development, marketing, finance, media, and corporate communications. He currently holds leadership positions in several publicly traded resource companies, including Leocor Mining, Terra Clean Energy, Arbor Metals, and Azincourt Energy.

The new CEO expressed enthusiasm about working with Chairman Arjun Grewal and highlighted the company's strategic focus on exploration for defense, energy, and security-related materials.

Positive

• Appointment of experienced mining executive with 30+ years of industry experience
• New CEO brings extensive leadership background in multiple public resource companies
• Strategic focus on growing defense and energy materials exploration

Negative

• Simultaneous departure of both CEO and director indicates significant leadership turnover
• Potential disruption in business continuity due to multiple management changes

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 24, 2025 / Armory Mining Corp. (CSE:ARMY)(OTC PINK:RMRYF)(FRA:2JS) (the "Company" or "Armory") would like to announce the appointment of Alex Klenman as Chief Executive Officer. Mr. Klenman is replacing Nader Vatanchi who has resigned as Chief Executive Officer and also as a director of the Company to pursue other opportunities.

Mr. Klenman is an experienced junior mining executive whose career spans over 30 years in the private and public sectors, with an emphasis on business development, marketing, finance, media, and corporate communications. Over the past decade he has held and continues to hold leadership roles with numerous publicly traded resource companies, including senior officer and/or director positions with Leocor Mining, Terra Clean Energy, Arbor Metals, Azincourt Energy and others.

"I'm pleased to join the Armory team, and very excited to work with the Chairman, Arjun Grewal," said Mr. Klenman. "His vision for growing this company is impressive. The exploration focus for defense, energy and security-related materials is one that will continue to grow in importance in the coming years. I'm looking forward to contributing to the growth of Armory and building lasting value moving forward," continued Mr. Klenman.

The Company also reports that director Aaron Wong has also resigned to pursue other business opportunities. The Company would like to thank Mr. Vatanchi and Mr. Wong for their dedicated service and wishes them well in their future endeavours.

About Armory Mining Corp

Armory Mining Corp. is a Canadian exploration company focused on minerals critical to the energy, security and defense sectors. The Company controls an 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina; a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia; and a 100% interest in the Riley Creek antimony-gold project located in Haida Gwaii, British Columbia, and an option to acquire a 100% interest in the Ammo antimony-gold project located in Nova Scotia.

Contact Information

Alex Klenman
CEO
alex@armorymining.com

Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to the continued growth in importance of the exploration focus for defense, energy and security-related materials. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipates", "anticipated" "expected" "intends" "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE: Armory Mining Corp.

View the original press release on ACCESS Newswire

FAQ

Who is the new CEO of Armory Mining Corp (RMRYF)?

Alex Klenman has been appointed as the new Chief Executive Officer of Armory Mining Corp (RMRYF), bringing over 30 years of experience in the private and public sectors.

What management changes occurred at Armory Mining (RMRYF) in January 2024?

In January 2024, Nader Vatanchi resigned as CEO and director, Aaron Wong stepped down as director, and Alex Klenman was appointed as the new CEO.

What is Armory Mining's (RMRYF) current business focus?

Armory Mining (RMRYF) focuses on exploration for defense, energy, and security-related materials.

What experience does Alex Klenman bring to Armory Mining (RMRYF)?

Alex Klenman brings over 30 years of experience in business development, marketing, finance, media, and corporate communications, including leadership roles in companies like Leocor Mining, Terra Clean Energy, Arbor Metals, and Azincourt Energy.