TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV:ARGH), (OTCQX:ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, announced its intention to issue and sell up to 21,250,000 common shares ("Common Shares") of the Company at a price of $0.40 per Common Share, for proceeds of up to $8,500,000 pursuant to a non-brokered private placement (the "Offering") and its intention to enter into a $1,500,000 secured loan (the "Loan") pursuant to a non-binding letter of intent (the "LOI").

The Company intends for the Offering to be limited to key strategic investor groups and partners, however, the Company retains the discretion to accept subscriptions from any investor who qualifies under applicable securities laws. There is no minimum offering amount applicable to the Offering and the Company may not complete the Offering in full at its discretion. The Offering is not expected to materially affect control of the Company. Proceeds of the Offering will be used for working capital and general corporate purposes. Closing of the Offering is subject to acceptance by the TSX Venture Exchange (the "TSXV") of the terms of the Offering and other customary closing conditions. The Company may close the Offering in one or more 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 ...