TORONTO, March 05, 2026 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, today announced that the Town of Bradford West Gwillimbury (“BWG” or the “Town”) successfully renewed its Smart Routing™ transit agreement, including an expansion in vehicle capacity. The renewal extends and expands the service, which successfully replaced the Town’s previous privately-operated fixed route bus system. Highlights of the deploymen ...

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].

Core Insights - Argo Corporation has successfully closed the first tranche of its non-brokered private placement, raising a total of $1,400,000 by issuing 3,500,000 common shares at a price of $0.40 per share [1] Group 1: Offering Details - The first tranche of the Offering was completed on December 22, 2025, with TheVentureCity as the key investor [1] - The proceeds from the Offering will be utilized for working capital and general corporate purposes, aiming to attract strategic investor groups to support the company's growth [3] - All securities issued are subject to a statutory hold period until April 30, 2026, and the completion of the Offering is pending final acceptance from the TSX Venture Exchange [3] Group 2: About TheVentureCity - TheVentureCity is a global venture fund founded by Laura González-Estéfani, who has a background in leading international growth at Facebook [2] - The fund has invested in over 120 companies across North America, Europe, and Latin America, indicating a strong network and potential for collaboration with Argo [2] Group 3: Company Overview - Argo Corporation is recognized for delivering the first vertically and publicly integrated city transit system, designed to enhance public transportation and create a network of intelligently routed vehicles [4] - The company's innovative approach aims to empower individuals by providing better control over their mobility needs [4]

Core Insights - Argo Corporation reported its financial results for Q3 2025, highlighting the success of its Smart Routing™ AI-powered transit solution and its ongoing municipal deployments [1][2]. Financial Performance - The company recognized early revenue contributions from its Smart Routing™ deployment in BWG and anticipates revenue from a $10.9 million agreement with the City of Brampton starting from November 26, 2025 [3]. Product and Service Developments - Argo's Smart Routing™ system integrates electric buses, charging infrastructure, and real-time routing software to provide on-demand transit services [2]. - The deployment in BWG resulted in a 5.5x increase in monthly transit connections to Bradford GO Station compared to the baseline prior to the launch [5]. Strategic Partnerships - The company launched its service in downtown Brampton under a 12-month agreement, enhancing the existing public transit network [5]. - An agreement with Metrolinx allows for the integration of PRESTO fare collection devices on Argo's buses, facilitating seamless fare transfers with existing transit networks [5]. Market Expansion - Argo is actively engaging with multiple municipalities and transit agencies to expand its Smart Routing™ system, driven by interest following successful deployments [5].