12:07 PM EDT, 03/22/2024 (MT Newswires) -- Argo Living Soils Corp. ( ARLSF ) said Friday that it has raised gross proceeds of $300,000 by completing its non-brokered private placement offering.

The company issued 3 million units at $0.10 apiece.

Each unit is comprised of one common share and one transferrable purchase warrant. Each warrant will allow the holder to buy one additional common share at $0.20 per share for 24 months following the closing of the offering.

The company plans to use proceeds for general working capital purposes, marketing, and identifying and evaluating strategic business opportunities that align with the company's business plan.

Separately, Argo said it has secured the exclusive licensing agreement rights with Canadian AgriChar Inc. by completing the payment terms of the license agreement.

The company's shares fell 4% on last look on Friday.

Argo specializes in producing and developing organic products, including soil amendments, living soils, biofertilizers, vermicompost, and compost extracts formulated specifically for high-value crops.

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