TORONTO, June 05, 2026 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, announces that it has closed a non-brokered private placement with a strategic investor whose business is related to the manufacturing of potential future vehicle hardware.
Argo continues to advance its next-generation public transit platform and evaluate opportunities to develop alignment with partners and investors in support of its long-term vehicle hardware and fleet strategy. The private placement consisted of 1,150,000 common shares issued at a price of $0.40 per common share, for gross proceeds of $460,000. No finder's fees or commissions were paid in connection with the private placement. The Company intends to use the proceeds from the private placement for working capital and general corporate purposes. The securities issued under the private placement are subject to a statutory hold period expiring October 6, 2026, in accordance with applicable securities laws. The private placement remains subject to final acceptance of the TSX Venture Exchange.
About Argo
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. You can learn more at www.rideargo.com
Praveen Arichandran, CEO
Argo Corporation
(800) 575-7051
Forward-Looking Information
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", and "intend", and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. The forward-looking information set out in this news release relates to future events or our future performance and includes, without limitation, statements concerning the strategic nature of the investment, potential future hardware relationships, vehicle and fleet deployment strategy, the use of proceeds, and the receipt of final acceptance of the TSX Venture Exchange. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, as described in more detail in the Company's securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements, and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
See "Cautionary Note Regarding Forward-Looking Information", "Financial Risk Management Objectives And Policies" and "Other Business Risks and Uncertainties" in the Company's Q1 2026 Financial Statements and its Q1 2026 MD&A for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption.
Media Contact: Christina Ra, Argo Corporation, christina@rideargo.com, (800) 575-7051
