Armada Mercantile Ltd. — Earnings Release 2021

Aug 12, 2021

ARMADA MERCANTILE LTD. 9575 Pinehurst Drive Roseville, CA 95747 Tel: 916-746-0029 cole@armadamercantile.com

July 16, 2021

TRADE SYMBOL: ARM-Canadian Securities Exchange TRADE SYMBOL: AAMTF-OTC Markets United States

Armada Releases Year End Financial Results

Armada Mercantile Ltd., (the “Company” Symbol: CSE: ARM and OTC: AAMTF) would like to provide information to shareholders regarding its 2021 February 28[th] year-end audited financial results. These results were filed on June 30, 2021.

2021 Audited Financial Highlights:

• Earnings (gain) per share for the year – basic and diluted were 31 cents per share

• Marketable securities increased CN$5,415,674 compared to a loss CN$207,292 in the 2020 year-end.

• Total assets increased to CN$5,564,307

• Net revenues increased 48% to CN$342,110, compared to CN$165,917 in the 2020 year-end, due to continued growth in the commercial finance business, despite the COVID-19 pandemic

• Net income increased to CN$5,529,560 compared to a loss (CN$267,894) in the 2020 year-end.

Commercial Finance Division Highlights and Outlook:

• July 2021 reached a record total of outstanding invoices of approximately US$12,110,637, an increase of 51%, from US$6,170,258.79 in July 2020

• The projected 2021 total outstanding invoices, based upon 12 months from the period, is projected to be US$20,000,000

• Cash on hand or committed capital for finance purposes was approximately US$11,000,000

• Since 2018, total invoice purchases were US$113,030,390.18. Total fees earned were US3,580,129.15. Total invoices collected were 7713.

For more information pertaining to Armada Mercantile Ltd., visit: www.armadamercantile.com.

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Contact Telephone Number: 916-746-0029. This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release. The risks and uncertainties discussed in documents filed by the Company with the British Columbia, Alberta and Ontario Securities Commissions.