Argo Gold Inc (ARBTF)

[AveragePenny]

$ARBTF $ARQ.C Argo Announces Normal Course Issuer Bid

https://www.newsfilecorp.com/release/214294/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.