Argo Corporation Provides Financing Updates

Executive Summary

• Argo Corporation closed a $1,500,000 secured loan with North American Bond Company, bearing 12% interest and maturing in two years.
• The company extended its non‑brokered private placement for up to 21,250,000 common shares at $0.40 per share, targeting gross proceeds of up to $8.5 million, with additional closings expected by February 9, 2026.
• As part of the loan financing, Argo issued 2,062,500 non‑transferable warrants (exercise price $0.44) and received conditional TSX Venture Exchange approval to add a cashless net‑exercise feature to existing warrants.

Key Details

• Loan Closure: Principal amount $1,500,000; interest 12% per annum; two‑year maturity; secured by a first‑ranking general security agreement.
• Warrants Issued with Loan: 2,062,500 non‑transferable common share purchase warrants; each warrant exercisable for one common share at $0.44; expiration coincides with loan maturity date.
• Private Placement Offering: Up to 21,250,000 common shares at $0.40 per share; potential gross proceeds up to $8,500,000.
• Offering Timeline: Further closings anticipated by February 9, 2026; company may close in one or more additional tranches at its discretion.
• Statutory Hold Period: Shares issued are subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.
• TSX Venture Exchange Amendment: Conditional approval received to add a cashless net‑exercise feature to 58,939,998 existing common share purchase warrants (issued on August 20, 2025). No other warrant terms were changed.
• Regulatory Conditions: The loan, offering, and amendment remain subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes included in the release.)