Argo Graphene raises $356,800 in private placement

Argo Graphene Solutions Corp. (CSE: ARGO) (OTCQB: ARLSF) (FSE: 94Y) completed a non-brokered private placement offering that raised $356,800 in gross proceeds, the company announced October 10.

The Vancouver-based company issued 509,714 units at $0.70 per unit. Each unit consists of one common share and one transferable warrant that allows the holder to purchase an additional common share at $0.80 until October 9, 2027.

Argo plans to use the proceeds for general working capital and continued research and development of graphene products, according to the press release.

Two company directors participated in the offering for $38,000 in aggregate proceeds. These transactions are considered related party transactions under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements since the fair market value of related party participation did not exceed 25% of the company's market capitalization.

All securities issued are subject to a four-month hold period that expires February 10, 2026, in accordance with Canadian securities law.

Argo Graphene Solutions develops materials for construction and agricultural industries through its subsidiary, Argo Green Concrete Solutions Inc.

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