Argo Corporation Secures $1.5 Million Loan and Extends $8.5 Million Equity Offering

Steer Technologies ( (TSE:ARGH) ) has issued an announcement.

Argo Corporation has closed a previously announced $1.5 million secured loan with North American Bond Company, bearing 12% annual interest over two years and backed by a first-ranking general security agreement, and has issued 2,062,500 non-transferable share purchase warrants to the lender exercisable at $0.44. The company has also extended its non-brokered private placement of up to 21,250,000 common shares at $0.40 per share for potential proceeds of up to $8.5 million, with additional closings expected by February 9, 2026, and received conditional TSX Venture Exchange approval to add a cashless net exercise feature to nearly 59 million existing warrants, moves that collectively strengthen its financing flexibility while remaining subject to final exchange acceptance and securities law hold periods for new shares.

More about Steer Technologies

Argo Corporation is a Toronto-based provider of next-generation transit solutions, developing a vertically and publicly integrated city transit system that augments existing public transportation with a network of intelligently routed vehicles designed to scale to the mobility needs of entire cities.

Average Trading Volume: 53,555

Technical Sentiment Signal: Sell

Current Market Cap: C$74.42M

For detailed information about ARGH stock, go to TipRanks’ Stock Analysis page.