Vancouver, British Columbia--(Newsfile Corp. - June 19, 2024) - Argo Living Soils Corp. (CSE: ARGO) (OTC Pink: ARLSF) ("Argo" or the "Company") is pleased to provide the following updates regarding Company activities in Malaysia.
Argo and Connective Global SDN BHD ("Connective Global") are currently engaged in strategic discussions to identify additional collaborative projects of mutual interest. Together they recently, signed and delivered an expression of interest for a potential collaboration on a new bamboo forestation project in the State of Sarawak, Malaysia, following an agreement recently executed between Connective Global and the Malaysian Community Care Foundation ("MCCF"). Further updates on this project will be provided in the coming weeks as this project remains subject to completion of due diligence by the parties and the parties entering into a definitive joint development agreement.
In addition, Argo announces a private placement offering of up to 4,500,000 units (the "Units") at a price of $0.12 per Unit, for aggregate gross proceeds of up to $540,000 (the "Offering").
Each Unit will consist of one common share in the capital of the Company and one transferrable share purchase warrant (a "Warrant"). Each Warrant will entitle 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 following the closing of the Offering. In connection with the Offering, the Company may pay customary finder's fees.
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.
The Company announces that it has extended the digital marketing services agreement with Rain Communications Corp. ("Rain Communications") (address: Suite 820 - 1130 Pender Street West, Vancouver, BC V6E 4A6; email raincommunications@gmail.com; telephone 604-306-2525) for up to twelve months commencing on June 19, 2024. The services provided by Rain Communications will include, but not be limited to, social media content and ads and marketing distributed through platforms such as Instagram, X, TikTok, YouTube, Reddit and LinkedIn. The term of the marketing services may be shortened at the discretion of management with 30 days notice depending on, amongst other things, the efficacy of the marketing services program. Rain Communications is an existing shareholder of the Company. The Company has agreed to pay Rain Communications a fee of up to $20,000 (plus GST) per month. The Company will not issue any securities to Rain Communications as compensation for its marketing services.
All securities to be issued under the Offering will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws.
About Argo Living Soils Corp.
The Company specializes in producing and developing organic products, including soil amendments, living soils, biofertilizers, vermicompost and compost extracts formulated specifically for high-value crops. 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 Director 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, a collaboration on a new bamboo forestation project in the State of Sarawak, the Company providing further updates on the foregoing collaboration completing due diligence and entering into a joint development agreement, the completion of the Offering, the use of proceeds 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", "potential", "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, risks that current and any future global supply chain issues will delay the proposed project; risks that the Company will not be able to secure required financing on reasonable terms or at all; risks with respect to the implementation of law and regulations that may impose restrictions on the Company's activities in Malaysia. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, the Company and its ability to secure additional financing on reasonable terms as required; a continued working relationship between the Company and Connective Global and MCCF; the competitive conditions of the industries in which the Company operates not increasing significantly; and no changes to the laws applicable to the Company and in Malaysia which would have an adverse material effect on the Company Although management of the Company have attempted to identify important factors and assumptions 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.
The securities offered under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
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