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Steer Technologies ( (TSE:ARGH) ) has issued an update.
Argo Corporation has closed the first tranche of its previously announced non-brokered private placement, issuing 3.5 million common shares to global venture fund TheVentureCity at $0.40 per share for gross proceeds of $1.4 million. The funding, which brings in a strategically connected investor with a track record in scaling technology companies, is intended to support working capital and general corporate purposes while helping Argo expand its integrated transit network in Canada and abroad, with any remaining tranches of the offering still subject to TSX Venture Exchange acceptance.
More about Steer Technologies
Argo Corporation is a Toronto-based provider of next-generation transit solutions, developing what it describes as the first vertically and publicly integrated city transit system. Its platform is designed to augment public transportation by deploying intelligently routed vehicle networks that scale to the mobility needs of entire cities and give riders more control over how they move around urban environments.
YTD Price Performance: 225.00%
Average Trading Volume: 54,306
Technical Sentiment Signal: Sell
Current Market Cap: C$77.07M
See more data about ARGH stock on TipRanks’ Stock Analysis page.