TORONTO, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Argo Corporation (TSXV: ARGH) (OTCQX: ARGHF) (“Argo” or the “Company”) today announced that the Town of Bradford West Gwillimbury (“BWG” or the “Town”) has renewed its Smart Routing™ transit services agreement through December 31, 2027.

This is the second renewal of Argo’s agreement with the Town since Smart Routing™ launched in Bradford in April 2025. Following the Town’s first renewal earlier this year, the Province of Ontario awarded BWG $4,093,337 through the Ontario Transit Investment Fund to support the longer-term expansion of on-demand transit.

As recently reported, average daily transit ridership in Bradford has grown to more than 3x the levels of the Town’s previous fixed-route transit system, while the Town’s cost per ride has declined by more than 50%.

“Significant public funding is available around the world to expand public transit. Our rapidly deployable Smart Routing™ transit infrastructure is proving how municipalities can quickly improve access and economics while helping unlock that funding,” said Praveen Arichandran, Co-founder and CEO of Argo. “In Bradford, ridership has more than tripled, cost per ride has fallen by more than half, and the Town has subsequently secured further funding to support the expansion of on-demand transit.”

Since the BWG launch, Argo has continued the expansion of its Smart Routing™ network in Brampton and Caledon. The Company’s focus remains on expanding the network across Canada, the United States, and internationally.

About Argo

Argo delivers the first-ever vertically and publicly integrated city transit system, designed to augment public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. Learn more at www.rideargo.com.

Forward-Looking Information

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. The forward-looking information set out in this news release relates to future events or future performance and includes, without limitation, statements concerning the continued operation of Smart Routing™ in Bradford West Gwillimbury, the use of provincial funding to support further expansion of on-demand transit, the anticipated benefits of Argo’s Smart Routing™ transit system, potential future expansion to other municipalities, and the Company’s plans to expand its network in Canada, the United States and internationally.

Such forward-looking statements are based on a number of assumptions, including: the continued successful operation of the Bradford West Gwillimbury service; maintaining municipal agreements in good standing; receiving required third-party approvals, consents and integrations; operational readiness; ridership adoption levels; technology performance and reliability; the availability and use of government funding; the availability of municipal procurement opportunities and execution of definitive agreements with new municipalities; and general economic conditions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including but not limited to: operational challenges; failure to meet contractual requirements; loss of required operating authority, insurance or approvals; third-party integration delays or failures; technology failures or cybersecurity incidents; termination or non-renewal of municipal agreements; failure to secure new municipal contracts; regulatory changes; availability of financing; and general economic conditions. Additional risks and uncertainties are described in more detail in the Company’s securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and readers are cautioned against placing undue reliance thereon. The Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.