Argo Announces Normal Course Issuer Bid
Argo Announces Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - June 25, 2024) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF)
(XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("
Argo
" or the "
Company
") announces that it
intends to initiate a normal course issuer bid ("
NCIB
") to purchase for cancellation, from time to time
over a 12-month period starting June 27, 2024, common shares ("
Common Shares
") of the Company
in an aggregate amount of up to 3,617,692 Common Shares, representing 5 percent of Argo's issued
and outstanding Common Shares. The NCIB will end on June 26, 2025, unless the maximum number of
Common Shares is purchased before then or Argo provides earlier notice of termination.
The board and management of the Company believes that the market price of the Common Shares may
not fully reflect the value of its business and prospects, and as such believes that purchasing the
Common Shares for cancellation is an appropriate strategy for increasing long-term shareholder value
and represents an appropriate use of the Company's financial resources.
The purchase and payment for the Common Shares will be made by Argo through the facilities of the
Canadian Securities Exchange ("
CSE
") or alternative trading systems. The price paid for the Common
Shares will be, subject to the applicable laws, the prevailing market price of such Common Shares on
the CSE at the time of such purchase. Any Common Shares purchased by the Company will be
cancelled.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company, and an oil producer.
Information on Argo Gold can be obtained from SEDAR+ at
www.sedarplus.ca
and on Argo Gold's
website at
www.argogold.com
. Argo Gold is listed on the Canadian Securities Exchange
(
www.thecse.com
) CSE:
ARQ
as well as OTC:
ARBTF
and XFRA, XSTU, XBER:
A2ASDS.
Judy Baker, CEO
(416) 786-7860
www.argogold.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
This press release contains statements that constitute "forward-looking information" (collectively,
"forward-looking statements") within the meaning of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news release. Any statement that
discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved)
are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements
regarding the NCIB, Common Shares to be purchased pursuant to the NCIB and cancellation of the
Common Shares purchased under the NCIB. In making the forward-looking statements contained in
this press release, Argo has made certain assumptions, including, but not limited to the
commencement of the NCIB and receipt of any required regulatory approvals. Although Argo
believes that the expectations reflected in forward-looking statements are reasonable, it can give no
assurance that the expectations of any forward-looking statements will prove to be correct. Known and
unknown risks, uncertainties, and other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such forward-looking statements. Such factors
include, but are not limited to the general business, economic, competitive, political and social
uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements
and information contained in this press release. Except as required by law, Argo disclaims any
intention and assumes no obligation to update or revise any forward-looking statements to reflect
actual results, whether as a result of new information, future events, changes in assumptions, changes
in factors affecting such forward-looking statements or otherwise.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/214294