TORONTO, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV:ARGH), (OTCQX:ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, announces that it has now closed on an aggregate of $5,445,383 in recently announced financing arrangements, including the closing of the non-brokered private placement (the "Offering") initially announced on December 22, 2025 for aggregate gross proceeds of $1,500,000, its recently announced closing of a $1,500,000 secured loan (the "Loan") on February 4, 2026, and the exercise of a class of the Company's outstanding common share purchase warrants (the "Warrants") for aggregate gross proceeds of $2,445,383, inclusive of $1,768,200 from Argo co-founders Praveen Arichandran and Qamar Qureshi.

The Offering was led by TheVentureCity, a global venture fund founded by Laura González-Estéfani, with investments in over 120 companies across North America, Europe, and Latin America. The Company previously closed on the first tranche of the Offering on December 29, 2025. The Offering has now been closed with a total issuance of 3,750,000 common shares ("Common Shares") at a price of $0.40 per Common Share, for aggregate gross proceeds of $1,500,000. Proceeds of the Offering will be used for working capital and general corporate purposes. 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.

The Company also recently announced the closing of the Loan with the strategic Canadian investment group North American Bond Company, Limited (the "Lender") in the principal amount of $1,500,000 bearing interest at a rate of 12% per annum. ...