TORONTO, Dec. 29, 2025 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV:ARGH), (OTCQX:ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, announces that it has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Offering") on December 22, 2025. Closing of the first tranche of the Offering resulted in the issuance of 3,500,000 common shares to TheVentureCity at a price of $0.40 per common share for aggregate gross proceeds of $1,400,000.

TheVentureCity is a global venture fund founded by Laura González-Estéfani, with investments in over 120 companies across North America, Europe, and Latin America. González-Estéfani was an early employee of Facebook from 2008, where she led international growth across Europe and Latin America, and worked with Argo CEO Praveen Arichandran.

The Company intends for the Offering to be focused on bringing in key strategic investor groups and partners who will help the Company scale in Canada and abroad and to use the net proceeds of the Offering for working capital and general corporate purposes. No finder's fees were paid in connection with the First Tranche. All securities issued are subject to a statutory hold period expiring on April 30, 2026, ...