TORONTO, June 25, 2026 (GLOBE NEWSWIRE) — Argo Corporation (TSXV: ARGH) (OTCQX: ARGHF) (“Argo” or the “Company”), a leader in next-generation transit solutions, joined Town of Caledon (the “Town”) leadership to announce Argo’s Smart Routing™ service, which is expected to launch in Fall 2026.
Caledon Mayor, Councillors and staff with Argo management
Argo and Town leadership gathered at Caledon Town Hall to share further details of the new transit system, which is expected to serve Caledon East, Bolton and Mayfield West/Southfields, with connections to GO Transit, Brampton Transit and York Region Transit. As previously announced on June 8, 2026, the 15-month service agreement (the “Agreement”) with the Town provides an aggregate fee to Argo of approximately $4.5 million for the initial term, excluding additional potential fare revenue retained by Argo. The Town has the ability to extend the agreement for additional periods, including a potential twelve-month extension that has been authorized by Town Council, subject to applicable municipal approvals.
“Caledon continues to explore innovative solutions to improve how residents move throughout our community,” said Mayor Annette Groves. “This pilot reflects our commitment to delivering accessible, efficient and sustainable transit options while embracing new technologies that have the potential to improve service for our residents.”
“The Town’s leadership in exploring new approaches to public transit will improve accessibility, increase efficiency, and provide residents with a more convenient way to travel. We look forward to working with the Town to help shape the next generation of community transit,” said Praveen Arichandran, CEO & co-founder of Argo. “The Caledon launch expands Argo’s Smart Routing™ infrastructure and service to a third municipality, enabling better connectivity for riders and enhanced efficiency across the Argo network.”
The launch in Caledon supports the Company’s focus on expanding its Smart Routing™ infrastructure, as it continues to pursue business development opportunities with municipalities.
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. You can learn more at www.rideargo.com.
Praveen Arichandran, CEO
Argo Corporation
(800) 575-7051
About Caledon
Caledon is home to close to 80,000 residents and 4,000 businesses and is well-known for its natural attractions, rural charm and vital role in the economic engine of the Greater Toronto Area. It will soon be one of Ontario’s fastest growing communities as it prepares to become a city of 300,000 residents and 125,000 jobs by 2051. Under its current strategic plan, Caledon’s priorities remain environmental leadership, community vitality and livability, enhanced transportation and mobility, and service excellence and accountability. For more information, visit Caledon.ca or follow us on Facebook, Instagram, LinkedIn, Bluesky and X (formerly Twitter).
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 expected launch timing and operation of the Smart Routing™ transit service in Caledon, service areas, potential term extensions, fare revenue, ridership, the anticipated benefits of Argo’s Smart Routing™ transit system, potential future expansion to other municipalities, and the Company’s business development pipeline. Such forward-looking statements are based on a number of assumptions, including: the successful launch and operation of the Caledon service; maintaining the Agreement in good standing; receiving required third-party approvals, consents and integrations; operational readiness; ridership adoption levels; technology performance and reliability; 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: launch delays or 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 the Agreement; regulatory changes; 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 the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Media Contact: Christina Ra, Argo Corporation, [email protected], (800) 575-7051
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4cba0be5-f6a2-41f3-8b9c-59d73a0617e6
