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TORONTO, Dec. 4, 2023 /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 co-led by Cormark Securities Inc., BMO Capital Markets and Scotiabank (collectively, the "Co-LeadUnderwriters"), on their own behalf and on behalf of a syndicate of underwriters (collectively with the Co-Lead Underwriters, the "Underwriters") pursuant to which the Co-Lead Underwriters have agreed to purchase for resale, on a "bought deal" basis, 210,527,000 common shares of the Company (the "Offered Shares") at a price of C$0.38 per Offered Share (the "Offering Price") for gross proceeds of approximately C$80 million (the "Offering").