Argo closes $5.44-million in financings

Executive Summary

• Argo Corp. has closed on a total of $5,445,383 in financing arrangements, comprising a non-brokered private placement, a secured loan, and the exercise of outstanding warrants.
• The private placement raised $1.5 million through the issuance of 3.75 million common shares at $0.40 per share, led by TheVentureCity, with proceeds designated for working capital and general corporate purposes.
• The company also secured a $1.5 million secured loan at 12% interest, accompanied by 2,062,500 warrants, and received $2,445,383 from warrant exercises, resulting in the issuance of over 56 million common shares.

Key Details

• Total Gross Proceeds: $5,445,383 closed across multiple financing instruments.
• Private Placement: $1.5 million gross proceeds from 3.75 million common shares issued at $0.40/share; led by TheVentureCity; first tranche closed Dec. 29, 2025; subject to a 4-month + 1-day statutory hold period.
• Secured Loan: $1.5 million principal from North American Bond Company Ltd.; bears 12% annual interest; secured against company assets; repayable in 24 months or upon receipt of $10M+ in equity financing proceeds.
• Loan Warrants: 2,062,500 non-transferable warrants issued to the lender, exercisable at $0.44/share for 24 months.
• Warrant Exercises: $2,445,383 gross proceeds from exercises of warrants related to debentures converted on Aug. 20, 2025; includes $1,768,200 from co-founders Praveen Arichandran and Qamar Qureshi; exercises conducted on a net exercise basis.
• Share Issuance: 56,212,455 common shares issued in connection with the warrant exercises.
• Fees & Conditions: No finders' fees paid for the loan or offering; all transactions subject to final acceptance by the TSX Venture Exchange.
• Use of Proceeds: Working capital and general corporate purposes.