Argo Gold Director Baker Sells, Buys Shares

Argo Gold Inc (C:ARQ)

Shares Issued 22,988,128
Last Close 5/23/2017 $0.215
Wednesday May 24 2017 – News Release

Ms. Judy Baker reports

JUDY BAKER PROVIDES UPDATE WITH RESPECT TO HER OWNERSHIP OF SECURITIES OF ARGO GOLD INC.

On May 18, 2017, Judy Baker, a director and officer of Argo Gold Inc., sold, through the open market, 1.6 million common shares of the issuer at a price of 18 cents per share for total proceeds of $288,000, representing approximately 6.37 per cent of the issued and outstanding common shares of the issuer on such date, and on May 18, 2017, and May 23, 2017, she acquired an aggregate of 1,726,750 common shares in connection with the exercise of an aggregate of 1,726,750 common share purchase warrants of the issuer at a price of 10 cents per acquired share, representing approximately 6.43 per cent of the issued and outstanding common shares of the issuer.

Prior to the Transaction, Ms. Baker owned 3,494,000 common shares, 1,826,750 common share purchase warrants and 150,000 options of the Issuer exercisable into common shares, representing approximately 13.92% of the outstanding shares on a non-diluted basis and 20.21% on a partially diluted basis, assuming exercise of her convertible securities. As of the date hereof, Ms. Baker owns 3,756,250 common shares of the Issuer, 100,000 common share purchase warrants and 150,000 options of the Issuer exercisable into common shares, representing approximately 14.00% of the outstanding shares on a non-diluted basis. However, as a result of the Transaction, Ms. Baker’s interest in the Issuer has been diluted and, assuming the exercise of her convertible securities, Ms. Baker would own an aggregate of 4,006,250 common shares, representing approximately 14.80% of the Issuer’s then outstanding Common Shares, on a partially diluted basis. Ms. Baker may, depending on market and other conditions, increase or decrease her beneficial ownership, control or direction over the common shares or other securities of the Issuer, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

2017-05-25T11:18:35+00:00 May 25th, 2017|Argo Gold|