On June 16, 2008, Armistice Resources Corp. (TSX: AZ) announced that it had closed its previously announced private placement. The full subscribed private placement raised gross proceeds of $3,238,250.35 through the sale of 6,165,001 units in the capital of Armistice (the "Units") at $0.35 per Unit and 2,701,250 flow-through common shares in the capital of Armistice (the "FT Shares") at $0.40 per FT Share. Armistice intends to use the net proceeds of the FT Share 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. Armistice was advised in this transaction by a team from Fasken Martineau that included Alex Nikolic, Nancy Eastman and Michael Bourassa.