Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Argo Living Soils Corp. (CSE: ARGO) (OTC Pink: ARLSF) ("Argo" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement offering ("Offering") by issuing 1,141,500 units (the "Units") at a price of $0.15 per Unit, for gross proceeds of $171,225 in the second tranche, and aggregate gross proceeds of $302,975 across both tranches.
Each Unit is comprised of one common share in the capital of the Company and one transferrable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share in the capital of the Company at $0.20 per share for a period of 24 months from the date of issuance. In connection with the second and final tranche of the Offering, the Company paid finder's fees in the amount of $5,478 and issued an aggregate of 36,520 finder's warrants (each a "Finder's Warrant") to an eligible arm's-length finder. Each Finder's Warrant entitles the holder to acquire one share of the Company at a price of $0.20 per share for a period of 24 months from the closing date of the Offering.
The Company plans to use proceeds of the Offering for general working capital purposes and identifying and evaluating strategic business opportunities which align with the Company's business plan.
Additionally, the Company announces changes to the board.
Mr. Peter Hoyle, currently serving as a member of the board of directors, CEO, President, and CFO, has resigned as the Company's CEO and President but will continue as a director and CFO. Mr. Robert Intile, a current board member, has been appointed as the Company's new CEO and President.
Mr. Lee Kok (Daniel) Onn has resigned as a director of the Company. We would like to thank him for his services as a director of the Company and wish him all the best on his future endeavours.
Mr. Robert Intile states, "I am excited to take on my new role as CEO of Argo Living Soils. I have a vision to build upon the technical strides we have made. Working closely with our partners, we intend to develop technology for applications in the evolving nano-fertilizer market. Agricultural Quantum - Graphene Fertilizer (Graphene-based nano-fertilizer) products are only the beginning for Argo. There are also many opportunities for this material in industrial applications. Low-cost manufacturing of Graphene is the key to widespread acceptance and commercial use."
All securities issued under the Offering will be subject to a four month hold period in accordance with Canadian securities law.
About Argo Living Soils Corp.
The Company specializes in producing and developing organic fertilizer products The Company's vision and overall business plan are to create an established brand of organic and/or environmentally friendly products. The Company was founded in 2018.
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For further information please contact:
Robert Intile - CEO Argo Living Soils Corp. Email: robertcintile@gmail.com Phone: 604-763-4017
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the use of proceeds, the Company developing its technology for use in the nano-fertilizer market, and the Company creating a brand of organic and/or environmentally friendly products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "plans", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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