Argo Graphene Solutions Corp. Announces Closing of License and Technology Transfer

Argo Graphene Solutions Corp. has finalized its license agreement with Grapherry, Inc. for the exclusive use of Grapherry's STREAM graphene production platform and related intellectual property. This agreement grants Argo a worldwide license to utilize, develop, and commercialize the technology over an initial 10-year period. Upon fulfilling all consideration requirements, full ownership of the technology will transfer to Argo.

As part of the agreement, Argo will issue up to 11,000,000 common shares and 5,500,000 share purchase warrants to Grapherry. Initially, 2,500,000 common shares and all 5,500,000 warrants were issued, with the remaining shares contingent on achieving specific milestones. Each warrant allows the purchase of one common share at CAD $0.75 for five years. The warrants will vest in stages as milestones are met, including equity financing and production facility commissioning.

Grapherry, a U.S.-based company, specializes in graphene production technologies and graphene-enhanced products for industrial applications. Their STREAM platform aims to produce high-quality graphene from carbon-based feedstocks using scalable methods suitable for commercial manufacturing. Grapherry's initiatives span sectors such as construction, agriculture, and energy storage, focusing on enhancing product performance and sustainability.

In connection with the agreement, Grapherry acquired 2,500,000 common shares and 5,500,000 warrants, representing approximately 9.09% of Argo's common shares on an undiluted basis. Assuming full exercise of the warrants, Grapherry's stake could increase to 24.24% on a partially diluted basis. Grapherry's acquisition of these securities is part of the consideration for the license granted to Argo.

Following the agreement's closure, Vikas Berry, CEO of Grapherry, has joined Argo's board of directors. Concurrently, Scott Smale has resigned as Director and CEO of Argo, with Sean McAlpine stepping in as interim CEO. Argo is actively seeking a permanent successor for the CEO position.

Argo Graphene Solutions Corp., based in Canada, focuses on developing graphene-enhanced technologies for construction, infrastructure, agriculture, and industrial manufacturing. The company aims to improve material performance in areas such as strength and conductivity through strategic partnerships and technology acquisitions, positioning itself in the expanding global graphene market.