Argo is pleased to announce that it entered into a non-binding term sheet for up to $40 million in senior secured convertible loans on 25 February 2025.

🔸 The initial tranche of the financing would be $15 million with follow-on tranches of up to $25 million over the next 18 months.

🔸 The proceeds of this financing are to be used to refresh Argo’s Baie Comeau mining fleet, to strengthen the balance sheet, and to assess a pipeline of merger and acquisition possibilities.

🔸 This will be non-amortizing, will carry an interest rate of approximately 8% and will have a conversion premium of 25% to the closing price of Argo’s shares the day before the definitive documents are signed.

Full RNS: https://t.co/QCADt3EPX6

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