Argo Corporation Announces Investment by TheVentureCity

Executive Summary

• Argo Corporation closed the first tranche of its non‑brokered private placement, issuing 3.5 million common shares at $0.40 each for gross proceeds of $1.4 million.
• Proceeds are earmarked for working capital and general corporate purposes; no finder’s fees were paid.
• The remaining tranches may be closed later, subject to TSX Venture Exchange acceptance and a statutory hold period expiring 30 April 2026.

Key Details

• Offering Structure: First tranche of a previously announced non‑brokered private placement.
• Shares Issued: 3,500,000 common shares.
• Price per Share: $0.40 CAD.
• Gross Proceeds: $1,400,000 CAD.
• Investor: TheVentureCity – global venture fund founded by Laura González‑Estéfani.
• Use of Proceeds: Working capital and general corporate purposes to support scaling in Canada and abroad.
• Finder’s Fees: None paid for this tranche.
• Statutory Hold Period: Shares subject to hold until 30 April 2026.
• Future Tranches: Remainder of the offering may be closed in one or more additional tranches; completion remains subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)