Argo Gold Announces Offering of Shares 15-Dec-20
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Argo Gold Announces Offering of Units and Flow‐Through Shares
Toronto, CANADA, December 15, 2020 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE:
ARQ) (OTCQB: ARBTF) is pleased to announce that it intends to complete a private placement
offering of up to 3,000,000 units (“ Units”) at a price of $0.17 per Unit, for gross proceeds of up
to $510,000 and up to 2,500,000 flow through shares (“Flow Through Shares”) at a price of $0.22
per Flow Through Share, for gross proceeds of up to $550,000 (t he Units and the Flow‐Through
Shares, the “Offering”).
The proceeds of the Offering will be used for exploration at th e Uchi Gold Project including; a
February 2021 till and bedrock sa mpling program to locate exten sions of the mineralized
structures and a June 2021 drill program targeting additional high‐grade gold mineralization at the
Woco, Northgate and Raingold Zones; as well as for general corporate purposes.
Each Unit will consist of one common share (a “Common Share”) of the Company and one
common share purchase warrant (each whole warrant, a “Warrant”) with each Warrant entitling
the holde r there of to p urchas e a C omm on Sha re at an ex e rcis e price of $0.24 for a period of
twenty‐four (24) months following the closing of the Offering. All securities issued under the
Offering are subject to a four‐month and one day statutory hold period. The gross proceeds from
the Flow‐Through portion of the Offering will be used for Canad ian Exploration Expenses, and
will qualify as “flow‐through mining expenditures,” as defined in the Income Tax Act (Canada).
Finder’s fees may be payable to qualified individuals (the “Finder”) pursuant to which the Finder
may receive a finder’s fee equal to 7% of the gross proceeds of the Offering sold by such Finder
and finder warrants (“Finder Warrants”) entitling the Finder to purchase that number of common
shares of the Company equal to 7% of the aggregate number of Units and/or Flow‐Through
Shares sold by such Finder under the Offering at a price of $0.24 per common share for a period
of twenty‐four (24) months from the date of closing of the Offering.
The closing of the Offering is anticipated to take place on or about December 18, 2020, or such
other later date as the Company may agree (the “Closing” ) . T h e C l o s i n g i s s u b j e c t t o c e r t a i n
conditions including, but not limited to, the receipt of all necessary approvals including the
approval of the Canadian Securities Exchange.
About Argo Gold Inc.
Argo Gold is a Canadian mineral exploration and development com pany, focused on gold
exploration at the Uchi Gold Project in the Red Lake District. Argo Gold recently added the Talbot
Lake Gold Project to its portfolio. (Argo Gold PR, June 11 202 0). Information on Argo Gold can
be obtained from SEDAR at www.sedar.com and on Argo Gold’s webs ite at www.argogold.ca.
Argo Gold is listed on the Canadian Securities Exchange ( www.thecse.com) CSE:ARQ, as well as
OTCQB:ARBTF and FSE:P3U.
For more information please contact:
Judy Baker, CEO
(416) 786‐7860
NEITHER THE CANADIAN SECURITIES EXCHAN GE NOR ITS REGULATIONS SE RVICES PROVIDER
HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
Forward‐looking Information Cautionary Statement
Except for statements of historic fact, this news release conta ins certain “forward‐looking information”
within the meaning of applicable securities law. Forward‐looking information is frequently characterized
by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar
words, or statements that certain events or conditions “may” or “will” occur. Forward‐looking statements
are based on the opinions and estimates at the date the statements are made, and are subject to a variety
of risks and uncertainties and ot her factors that could cause a ctual events or results to differ materially
from those anticipated in the forward‐looking statements includ ing, but not limited to delays or
uncertainties with regulatory approvals, including that of the CSE . T he re a re u nc e rt a i n ti es in h e re n t in
forward‐looking information, including factors beyond the Company’s control. The Company undertakes
no obligation to update forward‐looking information if circumstances or management's estimates or
opinions should change except as required by law. The reader is cautioned not to place undue reliance on
forward‐looking statements. Additional information identifyin g risks and uncertainties that could affect
financial results is contained in the Company’s filings with Canadian securities regulators, which filings are
available.