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Toronto, Ontario–(Newsfile Corp. – November 2, 2023) – Argo Gold Inc ’s. (CSE: ARQ) (OTCQB: ARBTF) ( FSE: P3U ) ( XFRA: A2ASDS ) ( XSTU: A2ASDS ) (XBER: A2ASDS) (“ Argo ” or the “ Company “) oil production results for September 2023: Lindbergh Oil Production Argo’s 37.5% interest Argo’s Oil Revenue Argo’s net operating cash flow September 2023 115 bbl/day 43.4 bbl/day $115,536 $83,068 Argo also announces that the seven leg multi-lateral horizontal Lloyd oil well in the Sparky formation was completed in late September and has been on production since early October. Argo’s interest in the Lloyd oil well is 18.75%. The Company also announces that it has closed the second tranche of its previously announced non-brokered private placement. In the second tranche, the Company issued 2,700,000 common shares at a price of $0.10 per share for gross proceeds of $270,000. The shares issued under the financing are subject to a four-month and one day statutory hold period expiring on March 1, 2024. Judy Baker, the CEO of the Company, acquired 800,000 shares for a total consideration of $80,000. The private placement is a related party transaction within the meaning of Multilateral Instrument 61-101 as insiders […]
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