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]

TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, announced its intention to issue and sell up to 21,250,000 common shares ("Common Shares") of the Company at a price of $0.40 per Common Share, for proceeds of up to $8,500,000 pursuant to a non-brokered private placement (the "Offering") and its intention to enter into a $1,500,000 secured loan (the “Loan”) pursuant to a non-binding letter of int ...