Argo to Renew Its Normal Course Issuer Bid

Rhea-AI Summary

Argo Gold (OTC: ARBTF) plans to renew its normal course issuer bid to repurchase and cancel up to 2,701,820 common shares, equal to 5% of outstanding shares. The 12‑month program runs from July 3, 2026 to July 2, 2027.

Since mid‑2024, Argo has bought and cancelled 2,007,807 shares under its existing NCIB. Management views the shares as undervalued and considers buybacks an appropriate use of financial resources. Purchases will occur through the CSE or alternative trading systems at prevailing market prices, and all repurchased shares will be cancelled.

Positive

• Authorization to repurchase up to 2,701,820 shares, or 5% of outstanding
• All repurchased shares under the renewed NCIB will be cancelled
• Company has already bought and cancelled 2,007,807 shares since mid-2024
• Management explicitly signals belief that the stock price undervalues the business

Negative

• Buybacks will use company financial resources that could be deployed elsewhere

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Toronto, Ontario--(Newsfile Corp. - July 3, 2026) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") announces that it intends to renew its normal course issuer bid ("NCIB") to purchase for cancellation, from time to time over a 12-month period starting July 3, 2026, common shares ("Common Shares") of the Company in an aggregate amount of up to 2,701,820 Common Shares, representing 5 percent of Argo's issued and outstanding Common Shares. The NCIB will end on July 2, 2027, unless the maximum number of Common Shares is purchased before then or Argo provides earlier notice of termination.

Since the inception of the original NCIB in mid-2024 to present, Argo Gold has purchased 2,007,807 shares out of the market and cancelled 2,007,807 shares.

The board and management of the Company believe 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
jbaker@argogold.ca 
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303920

FAQ

What did Argo Gold (ARBTF) announce about its normal course issuer bid on July 3, 2026?

Argo Gold announced plans to renew its normal course issuer bid to repurchase and cancel up to 2,701,820 common shares over 12 months. According to the company, this equals 5% of its issued and outstanding common shares.

How many Argo Gold (ARBTF) shares can be bought under the renewed NCIB?

The renewed NCIB allows Argo Gold to buy for cancellation up to 2,701,820 common shares. According to the company, this represents approximately 5% of its issued and outstanding common shares as of the announcement date.

What is the timeline for Argo Gold’s (ARBTF) renewed share buyback program?

The renewed NCIB runs from July 3, 2026, to July 2, 2027, unless completed or terminated earlier. According to Argo Gold, purchases may occur at any time within this 12‑month window, subject to applicable regulations and limits.

Where will Argo Gold (ARBTF) repurchase shares under the renewed NCIB?

Argo Gold intends to repurchase shares through the Canadian Securities Exchange and alternative trading systems. According to the company, shares will be bought at prevailing market prices permitted by applicable laws, and all repurchased shares will be cancelled.

How many Argo Gold (ARBTF) shares have already been repurchased under the existing NCIB?

Since mid‑2024, Argo Gold has purchased 2,007,807 shares in the market and cancelled the same number. According to the company, these repurchases occurred under the original normal course issuer bid prior to the planned renewal.

Why is Argo Gold (ARBTF) renewing its normal course issuer bid?

Argo Gold’s board and management believe the share price may not reflect the company’s value and prospects. According to Argo Gold, buying shares for cancellation is viewed as an appropriate strategy to support long‑term shareholder value and use financial resources.