$ARGH.V

Argo Enters $4.5 Million Deal With The Town of Caledon

Argo (ARGH.V) entered a $4.5 million service agreement with the Corporation of the Town of Caledon to launch and operate the company's Smart Routing transit, it said on Monday.Under the deal, Argo is expected to launch its Smart Routing transit system in Caledon this fall and operate the service for an initial 15-month period. The agreement also provides an aggregate fee to Argo of about $4.5 million for the initial term, excluding additional potential fare revenue retained by the company."The Town has the ability to extend the Agreement for additional periods, including a potential twelve-month extension that has been authorized by the Town Council, subject to applicable municipal approvals," said the company in a statement. "The system is expected to serve Caledon East, Bolton and Mayfield West/Southfields, with connections to GO Transit, Brampton Transit and York Region Transit."Shares of the company were last seen unchanged at $0.28 on the TSX Venture Exchange.

Argo Announces Closing of Strategic Investment

Argo (ARGH.V) closed a non-brokered private placement with a strategic investor whose business is related to the manufacturing of potential future vehicle hardware, the company said late Friday.The private placement consisted of 1.15 million common shares issued at a price of $0.40 each, for gross proceeds of $460,000, said the company.The company plans to use the proceeds for working capital and general corporate purposes.The private placement remains subject to final acceptance of the TSX Venture Exchange, it stated."Argo continues to advance its next-generation public transit platform and evaluate opportunities to develop alignment with partners and investors in support of its long-term vehicle hardware and fleet strategy," the company added.

Earnings Flash (ARGH.V) Argo Corporation Reports Q1 Revenue C$2.9M, Up 474% YoY; Net Income From Continuing Ops $1M