Calgary, Alberta--(Newsfile Corp. - June 17, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement financing (the "FT Private Placement") of units of the Company ("FT Units") at a price of $0.58 per FT Unit for aggregate gross proceeds of up to $1,500,000.
Each FT Unit shall consist of one common share in the authorized share structure of the Company ("FT Share") and one-half of one common share purchase warrant ("FT Warrant"). Each whole FT Warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.68 for a period of 24 months from the date of issuance.
The FT Shares are intended to qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). The gross proceeds from the sale of the FT Shares will be used to incur "Canadian exploration expenses" that are intended to qualify as "flow-through mining expenditures" as those terms are defined in the Tax Act, which the Company intends to renounce to the purchasers of the FT Shares.
Closing of the FT Private Placement is anticipated to occur in one or more tranches, on or about June 28th, 2025 (the "Closing Date"). Completion is subject to customary conditions, including regulatory approvals. All securities issued in connection with the FT Private Placement will be subject to a statutory hold period of four months and one day from the Closing Date.
The proceeds from the FT Private Placement will be used to advance the Company's exploration activities and continue unlocking value at its silica and rare earth element properties in Québec and Ontario.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Argyle Resources Corp.
Argyle Resources Corp. is a junior mineral exploration company engaged in acquiring, exploring, staking, and evaluating natural resource properties in North America. The Company holds 100% interests in the Pilgrim Islands, Matapedia, Lac Comporté, and Saint Gabriel quartzite silica projects in Québec, and the Clay Howells rare earth element project in Ontario. Argyle also holds an option to acquire up to 100% of the Frenchvale Graphite Property in Nova Scotia. The Company is engaged in a research partnership with the INRS, a high-level research and training institute funded by the Québec government.
Head Office: Calgary, Alberta, Canada
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (825) 724-0033
Website: www.argyleresourcescorp.com
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially. Factors that could cause actual results to vary include the Company's ability to complete the FT Private Placement and the risks detailed in filings with securities regulators. Forward-looking statements are made as of the date of this release and are qualified by this cautionary statement
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
