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Vancouver, British Columbia–(Newsfile Corp. – September 16, 2024) – Argo Living Soils Corp. (CSE: ARGO) (OTC Pink: ARLSF) (“Argo” or the “Company”) is pleased to provide the following updates regarding Company activities in Malaysia.
Argo has entered into negotiations for a potential joint venture or other similar form of transaction with Hampshire Eco Farms SDN BHD (“Hampshire”) in Malaysia. Details will be announced once they are available and any final form of transaction if agreed to by the parties will be based on corporate, tax, securities and other legal considerations and subject to customary conditions typical for a transaction of this nature.
In addition, Argo announces a private placement offering of up to 3,000,000 (the “Units”) at a price of $0.15 per Unit, for aggregate gross proceeds of up to $450,000 (the “Offering”).
Each Unit will consist of one common share in the capital of the Company and one transferrable share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company at a price of $0.20 per share for a period of 24 months following the closing of the Offering. In connection with the Offering, the Company may pay customary finder’s fees.
The Company plans to use proceeds of the Offering for general working capital purposes and identifying and evaluating strategic business opportunities which align with the Company’s business plan.
All securities to be issued under the Offering will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws.
As at the date of this news release, no agreement between Argo and Hampshire has been completed or executed and there is no guarantee that the joint venture or any other similar form of transaction will proceed as outlined above. The transaction remains subject to negotiation and execution of definitive documentation acceptable to both parties, which may or may not be completed. Updates on the transaction will be provided once available.
About Argo Living Soils Corp.
The Company specializes in producing and developing organic products, including soil amendments, living soils, biofertilizers, vermicompost and compost extracts formulated specifically for high-value crops. The Company’s vision and overall business plan are to create an established brand of organic and/or environmentally friendly products. The Company was founded in 2018.
About Hampshire Eco Farms
Hampshire Eco Farms focus is towards eco-sustainable practices, a dedication to innovative agricultural practices that respects and enriches the environment. Hampshire has grown from a modest operation into a pioneer of eco-agriculture, integrated organic farming with renewable energy solutions to model sustainability in agriculture. https://hampshire-ecofarms.com/
We Seek Safe Harbor.
For further information please contact:
Robert Intile
Director
Argo Living Soils Corp.
Email: [email protected]
Phone: 604-763-4017
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, a joint venture with Hampshire, the form of transaction between Argo and Hampshire, the Company providing further updates on the foregoing collaboration completing due diligence and entering into a joint development agreement, the completion of the Offering, the use of proceeds and the Company creating a brand of organic and/or environmentally friendly products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will”, “potential”, “plans”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals, risks that current and any future global supply chain issues will delay the proposed project; risks that the Company will not be able to secure required financing on reasonable terms or at all; risks with respect to the implementation of law and regulations that may impose restrictions on the Company’s activities in Malaysia. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, the Company and its ability to secure additional financing on reasonable terms as required; a continued working relationship between the Company and Hampshire; the competitive conditions of the industries in which the Company operates not increasing significantly; and no changes to the laws applicable to the Company and in Malaysia which would have an adverse material effect on the Company Although management of the Company have attempted to identify important factors and assumptions that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The securities offered under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
