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].

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 Fe ...

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 Viewpoint - Argo Corporation plans to issue up to 21,250,000 common shares at $0.40 each, aiming for proceeds of up to $8,500,000 through a non-brokered private placement, and intends to secure a $1,500,000 loan with a 12% interest rate [1][3] Group 1: Offering Details - The Offering will target key strategic investor groups, but the Company may accept subscriptions from any qualifying investor [2] - There is no minimum offering amount, and the Company may choose not to complete the Offering in full [2] - Proceeds from the Offering will be allocated for working capital and general corporate purposes [2] Group 2: Loan Information - The proposed $1,500,000 Loan is expected to mature in two years and be secured by a first-ranking general security agreement [3] - The Loan will include the issuance of up to 2,062,500 non-transferable common share purchase warrants, each exercisable at $0.44 [3] - Proceeds from the Loan are also intended for working capital and general corporate purposes [3] Group 3: Company Overview - Argo Corporation is a leader in next-generation transit solutions, focusing on creating an integrated city transit system that enhances public transportation [4]