The Toronto Argonauts will announce the signing of a contract with quarterback James Franklin on Thursday, TSN Football Insider Dave Naylor reports.

The Argonauts acquired Franklin, who was set to become a free agent next month, in December for offensive lineman Mason Woods.

Franklin has dressed for 52 games for the Eskimos over the past three seasons. He has completed 116 of 176 passes for 1,449 yards with 12 touchdowns and one interception over his CFL career. He has also rushed for 145 yards and a touchdown on 18 career carries.

When Franklin was acquired, Argos general manager Jim Popp told Naylor the trade had nothing to do with the status of quarterback Ricky Ray, who is considering retirement this off-season.

Franklin completed 13 of 19 passes last season for 142 yards with two touchdowns and no interceptions. In three CFL seasons, he was completed 116 of 176 passes for 1,449 yards with 12 touchdowns to one interception.