Southern Gold Resources Ltd.

May 21, 2009 17:38 ET

Southern Gold Acquires Additional Shares in Armada Data

Beneficial ownership increases to more than 10%

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2009) - Southern Gold Resources Ltd. ("Southern Gold") today announced that it has acquired beneficial ownership of an additional 50,000 common shares of Armada Data Corporation (TSX VENTURE:ARD) ("Armada") at $0.11 per share through the facilities of the TSX Venture Exchange.

"Southern Gold is a closely-held British Columbia company that invests in the securities of small companies listed for the most part on the TSX-V, and in large capitalization companies on a more global basis," said Alan Savage, president of Southern Gold. "We look for small cap companies with strong balance sheets that are under-leveraged and whose operations show the potential for long-term growth. We saw a fit for Armada in our portfolio."

This acquisition of Armada shares increases Southern Gold's beneficial ownership, direction or control to an aggregate of 1,398,000 common shares, representing approximately 10.28% of the outstanding Armada voting shares. The shares were acquired by Southern Gold for investment purposes only. Southern Gold may acquire ownership of, or control or direction over additional securities of Armada in the future, but has no present intention to do so.

Southern Gold was incorporated in British Columbia in 1981 and derives income from oil and gas production in Saskatchewan through its wholly-owned subsidiary Loop Royalty Investments Ltd., and manages its securities portfolio from Vancouver offices.

A copy of the early warning report in respect to this acquisition has been filed with the applicable securities commissions and can be found at www.sedar.com.

Contact Information

  • Southern Gold Resources Ltd.
    Alan C. Savage
    604 687 2471