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TORONTO, Dec. 12, 2023 /CNW/ - Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce it has closed its previously announced public offering (the "Offering") of 223,685,000 common shares of the Company (the "Offered Shares") at a price of C$0.38 per Offered Share for gross proceeds to the Company of C$85,000,300, including the exercise in full of the underwriters' over-allotment option. The Offering was completed on a "bought deal" basis by a syndicate of underwriters co-led by Cormark Securities Inc., BMO Capital Markets and Scotia Capital Inc., and including RBC Dominion Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Paradigm Capital Inc. and Laurentian Bank Securities Inc.