Oct 20 (Reuters) - Armour Energy Ltd (AJQ) :
- UPDATE ON PROPOSAL TO ACQUIRE ARMOUR ENERGY AND SECURED NOTE
- CO & SHUNKANG HOLDING GROUP CONTINUING TO NEGOTIATE KEY COMMERCIAL ASPECTS OF A POTENTIAL TRANSACTION
- IS SEEKING THAT SHUNKANG WILL PROVIDE ARMOUR WITH LOAN FUNDING
- CO AND SHUNKANG HAVE PROGRESSED TO A DUE DILIGENCE PHASE TO ASSIST IN REACHING AGREEMENT