Argo Corporation Announces Investment by TheVentureCity
TORONTO, Dec. 29, 2025 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) ( "Argo " or the "Company "), a leader in next-generation transit solutions, announces that it has closed the first tranche (the “First Tranche”) of its previously announced non-brokered private placement (the “Offering”) on December 22, 2025. Closing of the first tranche of the Offering resulted in the issuance of 3,500,000 common shares to TheVentureCity at a price of $0.40 per common share for aggregate gross proceeds of $1,400,000.
TheVentureCity is a global venture fund founded by Laura González-Estéfani, with investments in over 120 companies across North America, Europe, and Latin America. González-Estéfani was an early employee of Facebook from 2008, where she led international growth across Europe and Latin America, and worked with Argo CEO Praveen Arichandran.
The Company intends for the Offering to be focused on bringing in key strategic investor groups and partners who will help the Company scale in Canada and abroad and to use the net proceeds of the Offering for working capital and general corporate purposes. No finder’s fees were paid in connection with the First Tranche. All securities issued are subject to a statutory hold period expiring on April 30, 2026, in accordance with applicable securities laws. The remainder of the Offering may be closed in one or more additional tranches. Completion of the Offering remains subject to the 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 future performance and includes, without limitation, statements concerning the size, timing, and completion of the Offering, use of associated proceeds, and other related information. 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 the Company cautions against placing undue reliance thereon. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation and regulatory requirements. See "Cautionary Note Regarding Forward-Looking Information ", ”Financial Risk Management Objectives And Policies” and “Other Business Risks and Uncertainties” in the Company’s Q3 2025 Financial Statements and its Q3 2025 MD&A for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider the uncertainties, risks, and assumptions carefully when evaluating forward-looking information and are cautioned not to place undue reliance on such information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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
© 2025 GlobeNewswire, Inc. All Rights Reserved.
