Argo Graphene upsizes private placement to CDN$635,000

Argo Graphene Solutions Corp. (CSE: ARGO) announced it has increased the size of its previously announced private placement offering to up to 1,154,546 units at CDN$0.55 per unit, for aggregate gross proceeds of up to CDN$635,000.

The upsize includes the exercise of a previously announced over-allotment option, according to a company statement. The Vancouver-based company cited strong investor demand for the increase.

Each unit comprises one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CDN$0.70 per share for 24 months following the offering's closing.

Argo plans to use the proceeds for general working capital purposes and to continue research and development of its graphene products. The company may pay finders' fees subject to regulatory and exchange approval.

All securities issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

Argo Graphene Solutions develops and commercializes graphene-enhanced technologies and products for applications in construction, infrastructure, agriculture, and industrial manufacturing.

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