Argo Engages Independent Trading Group as Market Maker and Closes Private Placement
TORONTO, March 27, 2026 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV: ARGH), (OTCQX: ARGHF) ( "Argo " or the "Company "), a leader in next-generation transit solutions, announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group ( "ITG "), under the terms of a Market Making Services Agreement (the "Agreement "), to provide market-making services in accordance with TSX Venture Exchange (the “TSXV”) policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company 's common shares. The Company also announces and closes a non-brokered private placement (the “Offering”) of common shares of the Company (the “Common Shares”) for gross proceeds of $750,000 at a price of $0.40 per Common Share.
Under the Agreement, ITG will receive compensation of $6,000 per month, payable monthly in advance. The Agreement is for an initial term of one month commencing March 27, 2026, and will renew for additional one-month terms unless terminated. The Agreement may be terminated by either party with 30 days ' notice. There are no performance factors contained in the Agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.
The Offering follows the closing of the previously announced private placement on February 6, 2026, and allows for further participation from a number of strategic and angel investors. Pursuant to the Offering, the Company issued an aggregate of 1,875,000 Common Shares at a price of $0.40 per Common Share. The net proceeds from the Offering will be used for working capital and general corporate purposes. All securities issued under the Offering are subject to a statutory hold period expiring on July 28, 2026, in accordance with applicable securities laws. No finder’s fees or commissions were paid in connection with the Offering. The Offering remains subject to final acceptance of the TSX Venture Exchange.
About Independent Trading Group
Independent Trading Group (ITG) Inc. is a Toronto-based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
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 various financing arrangements, use of associated proceeds, liquidity of the Company’s common shares, 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
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