Argo Living Soils Corp. Closes Final Tranche of Private Placement: A Green Thumb for Growth
Generated by AI AgentWesley Park
Friday, Jan 31, 2025 7:56 pm ET1min read
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Argo Living Soils Corp. (CSE: ARGO) (OTC Pink: ARLSF) has successfully closed the second and final tranche of its non-brokered private placement offering, raising aggregate gross proceeds of $302,975 across both tranches. The company issued 1,141,500 units at a price of $0.15 per unit in the second tranche, with each unit comprising one common share and one transferable share purchase warrant. The warrants entitle holders to purchase one additional common share at $0.20 per share for a period of 24 months from the date of issuance.
The company plans to use the proceeds from the private placement for general working capital purposes and to identify and evaluate strategic business opportunities that align with its business plan. This includes expanding its product line, investing in research and development, and exploring new markets.
In conjunction with the closing of the private placement, Argo Living Soils Corp. announced changes to its board of directors. Mr. Peter Hoyle, who previously served as CEO, President, and CFO, has resigned as CEO and President but will continue as a director and CFO. Mr. Robert Intile, a current board member, has been appointed as the new CEO and President. Mr. Lee Kok (Daniel) Onn has also resigned as a director of the Company.
Mr. Intile, in his new role, expressed his excitement and vision for the company, stating, "I am excited to take on my new role as CEO of Argo Living Soils. I have a vision to build upon the technical strides we have made. Working closely with our partners, we intend to develop technology for applications in the evolving nano-fertilizer market. Agricultural Quantum - Graphene Fertilizer (Graphene-based nano-fertilizer) products are only the beginning for Argo. There are also many opportunities for this material in industrial applications. Low-cost manufacturing of Graphene is the key to widespread acceptance and commercial use."
The closing of the final tranche of the private placement and the appointment of Mr. Intile as the new CEO and President signal a positive outlook for Argo Living Soils Corp. With the additional capital and a clear vision for the future, the company is well-positioned to pursue strategic business opportunities and continue its growth trajectory in the organic and environmentally friendly product market.
ARL--
Argo Living Soils Corp. (CSE: ARGO) (OTC Pink: ARLSF) has successfully closed the second and final tranche of its non-brokered private placement offering, raising aggregate gross proceeds of $302,975 across both tranches. The company issued 1,141,500 units at a price of $0.15 per unit in the second tranche, with each unit comprising one common share and one transferable share purchase warrant. The warrants entitle holders to purchase one additional common share at $0.20 per share for a period of 24 months from the date of issuance.
The company plans to use the proceeds from the private placement for general working capital purposes and to identify and evaluate strategic business opportunities that align with its business plan. This includes expanding its product line, investing in research and development, and exploring new markets.
In conjunction with the closing of the private placement, Argo Living Soils Corp. announced changes to its board of directors. Mr. Peter Hoyle, who previously served as CEO, President, and CFO, has resigned as CEO and President but will continue as a director and CFO. Mr. Robert Intile, a current board member, has been appointed as the new CEO and President. Mr. Lee Kok (Daniel) Onn has also resigned as a director of the Company.
Mr. Intile, in his new role, expressed his excitement and vision for the company, stating, "I am excited to take on my new role as CEO of Argo Living Soils. I have a vision to build upon the technical strides we have made. Working closely with our partners, we intend to develop technology for applications in the evolving nano-fertilizer market. Agricultural Quantum - Graphene Fertilizer (Graphene-based nano-fertilizer) products are only the beginning for Argo. There are also many opportunities for this material in industrial applications. Low-cost manufacturing of Graphene is the key to widespread acceptance and commercial use."
The closing of the final tranche of the private placement and the appointment of Mr. Intile as the new CEO and President signal a positive outlook for Argo Living Soils Corp. With the additional capital and a clear vision for the future, the company is well-positioned to pursue strategic business opportunities and continue its growth trajectory in the organic and environmentally friendly product market.
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