Argyle Closes C$500,000 LIFE Offering

Executive Summary

• Argyle Resources Corp. closed a unit offering of 2,500,000 Units at C$0.20 per Unit, raising gross proceeds of C$500,000.
• Each Unit consists of one common share and one warrant to purchase an additional share at C$0.27 exercisable for 24 months.
• Net proceeds are earmarked for legal/accounting fees, marketing, exploration activities, general working capital, and other purposes disclosed in the offering document.

Key Details

• Offering Size & Price: 2,500,000 Units @ C$0.20 per Unit → C$500,000 gross proceeds.
• Unit Composition: 1 common share + 1 share purchase warrant (exercise price C$0.27, 24‑month term).
• Warrant Terms: Holders may buy one additional share at C$0.27 per share; warrants expire after 24 months.
• Financing Exemption: Units issued under the Listed Issuer Financing Exemption (LIFE) – not subject to resale restrictions.
• Finder Compensation: Paid cash fees of US$16,800 and issued 84,000 broker warrants (each exercisable at US$0.27 for 24 months).
• Use of Proceeds: Legal & accounting expenses, marketing/advertising, mineral property exploration activities, general working capital, and other purposes as outlined in the Offering Document.
• U.S. Securities Restrictions: Units not registered under the U.S. Securities Act; cannot be offered/sold to U.S. persons without exemption or registration.

Notable Quotes

(No executive quotes were included in the release.)