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Argo Closes $1.5 Million Secured Loan, Extends $8.5 Million Private Placement

BY MT Newswires | CORPORATE | 05:05 PM EST

05:05 PM EST, 02/04/2026 (MT Newswires) -- Argo Corp (ARGHF) on Wednesday said it closed a $1.5-million secured loan and extended a non-brokered private placement offering of up to 21.25-million shares at $0.40 each.

Argo said it closed the loan with the strategic Canadian investment group North American Bond Company in the principal amount of $1.5 million, bearing interest at 12% per annum and maturing two years from closing. In connection with the loan, it issued to the lender 2,062,500 non-transferable common share purchase warrants, each exercisable to acquire one Share at price of $0.44.

Shares of the company closed down $0.01 to $0.34 on Wednesday.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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