Argyle Announces up to C$500,000 Private Placement

Executive Summary

• Argyle Resources Corp. announces a non‑brokered private placement for up to $500,000 in gross proceeds.
• The offering consists of up to 3,333,333 units at $0.15 per unit, each unit containing one flow‑through common share and half of a warrant.
• Net proceeds are intended to fund Canadian exploration expenses that qualify as flow‑through mining expenditures for tax purposes.

Key Details

• Units Offered: Up to 3,333,333 units at $0.15 per unit.
• Unit Composition: One “flow‑through” common share + one‑half of a Common Share purchase warrant (each half‑warrant allows purchase of ½ non‑flow‑through common share at $0.20 for 24 months).
• Gross Proceeds Target: Up to $500,000.
• Use of Proceeds: To incur Canadian exploration expenses that qualify as flow‑through mining expenditures under the Income Tax Act (Canada) and may be renounced to purchasers.
• Closing Conditions: Subject to customary conditions, including approval from the Canadian Securities Exchange (CSE).
• Statutory Hold Period: Units subject to a hold period of four months and one day.
• Finder Compensation: Company may compensate finders in accordance with CSE rules.

Notable Quotes

(No direct quotes provided in the release.)