Argo closes $1.5M loan, extends private placement

Mr. Praveen Arichandran reports ARGO CORPORATION PROVIDES FINANCING UPDATES Argo Corp. has closed its previously announced $1.5-million secured loan and extended the previously announced non-brokered private placement offering of up to 21.25 million common shares of the company at a price of 40 cents per common share for proceeds of up to $8.5-million pursuant to a non-brokered private placement. The company has closed the loan with the strategic Canadian investment group North American Bond Company Ltd. (lender) in the principal amount of $1.5-million, bearing interest at 12 per cent per annum and maturing two years from closing. The loan is secured by a first-ranking general security agreement. In connection with the loan, the company issued to the lender 2,062,500 non-transferable common share purchase warrants, each exercisable to acquire one common share at an exercise price of 44 cents, expiring on the loan maturity date. Further closings of the offering are expected to occur by Feb. 9, 2026. The company may close the offering in one or more additional tranches at its discretion. The common shares issued pursuant to the offering are subject to a statutory hold period of four months and one day from the applicable date of issuance in accordance with applicable Canadian securities laws. There can be no assurances that the offering will be completed on the terms set out herein or at all. The company has also received conditional approval from the TSX Venture Exchange to add a cashless net exercise feature to the 58,939,998 common share purchase warrants issued in connection with the conversion of the company's previously outstanding debentures on Aug. 20, 2025. No other terms of the share purchase warrants were amended. The loan, the offering and the amendment are each subject to final acceptance by the TSX Venture Exchange. About Argo Corp. Argo delivers the first ever vertically and publicly integrated city transit system, designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. We seek Safe Harbor.