Argo Graphene Solutions announces CDN$500,000 private placement

Argo Graphene Solutions Corp. (CSE: ARGO) (OTCQB: ARLSF) (FSE: 94Y) announced a non-brokered private placement offering of up to 909,091 units priced at CDN$0.55 per unit, targeting aggregate gross proceeds of CDN$500,000.

The offering includes an over-allotment option for up to an additional 136,364 units, which could generate additional gross proceeds of up to CDN$75,000. Each unit consists of one common share and one transferable share purchase warrant.

The warrants entitle holders to purchase one additional common share at CDN$0.70 per share for 24 months following the offering's closing. The company may pay finders' fees subject to regulatory and exchange approval.

Argo plans to use the proceeds for general working capital purposes and to continue research and development of its graphene products. All securities issued under the offering will be subject to a four-month and one-day hold period under Canadian securities laws.

The Vancouver-based company develops materials for the construction and agricultural industries. The information is based on a company press release statement.

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