Argonaut Gold Announces $23 Million Bought Deal Public Offering of Flow-Through Common Shares

AR-PR-CDEFinancing-01252021

TORONTO, Jan. 25, 2021 /CNW/ – Argonaut Gold Inc. (TSX: AR) (“Argonaut” or the “Company“) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. (collectively, the “Underwriters“), pursuant to which the Underwriters have agreed to purchase , on a “bought deal” basis, 8,156,100 common shares to be issued as “flow-through shares” with respect to “Canadian development expenses” (“CDE“) within the meaning of the Income Tax Act (Canada) and the regulations thereunder in force as of the date hereof (the “Tax Act“) (the “CDE Flow-Through Shares“) at a price of $2.82 per CDE Flow-Through Share (the “CDE Offering Price“) for gross proceeds to the Company of approximately $23 million (the “Offering“).

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