Mr. Peter Hoyle reports

ARGO LIVING SOILS CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT OFFERING AND ISSUES SHARES FOR LICENSE

Argo Living Soils Corp. has closed its previously announced non-brokered private placement offering by issuing three million units at a price of 10 cents per unit, for aggregate gross proceeds of $300,000.

Each unit comprises one common share in the capital of the company and one transferrable purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the company at 20 cents per share for a period of 24 months following the closing of the offering.

In connection with the offering, the company paid finder's fees in the amount of $10,800 and issued an aggregate of 108,000 finder's warrants to eligible arm's-length finders. Each finder's warrant entitles the holder to acquire one common share in the capital of the company at 20 cents per share for a period of 24 months following the closing of the offering.

The company plans to use proceeds of the offering for general working capital purposes, marketing, and identifying and evaluating strategic business opportunities which align with the company's business plan.

All securities to be issued under the offering will be subject to a four-month-and-one-day hold period expiring on July 22, 2024, in accordance with Canadian securities law.

Argo also announces that it has secured the exclusive licensing agreement rights with Canadian AgriChar Inc. by completing the payment terms of the licence agreement (see news releases dated Sept. 12, 2023, Sept. 28, 2023, and March 5, 2024).

One director of the company participated in the offering for $10,000, and his participation constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation requirements contained in Section 5.5(b) of MI 61-101 and the minority shareholder approval requirements contained in Section 5.7(1)(a) of MI 61-101, as the company is not listed on specified markets and the fair market value of the directors' participation does not exceed 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the transaction, as the details of the participation were not settled until shortly prior to closing of the offering.

About Argo Living Soils Corp.

The company specializes in producing and developing organic products, including soil amendments, living soils, biofertilizers, vermicompost and compost extracts formulated specifically for high-value crops. The company's vision and overall business plan are to create an established brand of organic and/or environmentally friendly products. The company was founded in 2018, and its production facilities have been expanded and relocated to Duncan, B.C., in a joint venture with Pacific Composting.

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