Argo Corporation Announces Investment And Lock-Up Agreements By Co-Founders

Core Viewpoint - Argo Corporation has successfully closed financing arrangements totaling $5,445,383, which includes significant personal investments from co-founders Praveen Arichandran and Qamar Qureshi, who have also entered into voluntary lock-up agreements to demonstrate their long-term confidence in the company [1][2]. Financing and Shareholder Actions - The financing arrangements include $2,445,383 raised through the exercise of outstanding common share purchase warrants at an exercise price of $0.06 per share, resulting in the issuance of 56,212,455 common shares [3]. - Following the exercise of the warrants, the total number of common shares issued and outstanding is now 257,585,455 [3]. - Praveen Arichandran exercised warrants for a total price of $1,091,016.96, acquiring 18,183,616 common shares, increasing his ownership to approximately 15.65% of the issued and outstanding common shares on a partially-diluted basis [3]. - Qamar Qureshi exercised warrants for a total price of $677,182.98, acquiring 11,286,383 common shares, raising his ownership to approximately 12.50% of the issued and outstanding common shares on a partially-diluted basis [3]. Lock-Up Agreements - Both co-founders have entered into lock-up agreements that restrict them from selling or disposing of their shares until February 8, 2028, reinforcing their commitment to the company's long-term vision [1][2].