Armada Mercantile Ltd.
CNQ : AARM
PINK SHEETS : AAMTF.PK

Armada Mercantile Ltd.

July 15, 2005 14:18 ET

Armada Mercantile Ltd.: Venture Lending Loan

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 15, 2005) - Armada Mercantile Ltd. (the Company) (CNQ:AARM)(PINK SHEETS:AAMTF.PK), through its wholly-owned subsidiary Armada Group USA, Inc. (ArmadaUSA), has signed a venture lending loan agreement (the Loan) with the CEO of Global Silicon Net Corp. (GSN) of Fremont, California. Upon closing, the Loan is re-payable in two years and is collateralized by certain assets of the CEO. The Loan, at no obligation, is convertible into shares of GSN and carries a share purchase warrant. Management of ArmadaUSA will provide advisory services to GSN related to international corporate structure, strategic partnerships and access to capital. Management of ArmadaUSA views GSN as a major opportunity to participate in the strong and increasing new generation memory marketplace, and the rapid growth of memory market for mobile devices, home computer, home appliances and entertainment applications.

About GSN: GSN is revolutionizing the semiconductor industry by decoupling design activity from processing, testing and analysis. GSN can help the customer with conceptualizing a device structure ranging from a high-k dielectric film to a memory cell or a novel micro-electric mechanical system structure. GSN is engaged in the development of Resistive Random Access Memory (RRAM). RRAM devices incorporate certain unique new materials while combining low temperature deposition of these materials to offer the possibility of fabricating non-volatile, high-density memory cells separately from logic devices for system-on-chip applications. RRAM development is a focus for several device manufacturers because of its ideal attributes for high density, low cost and low power consumption.

For more information pertaining to GSN, please visit www.globalsilicon-net.com. and http://www.oiccam.com/gsnus/.

Patrick Cole, President

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