Argyle Closes Flow Through Private Placement

Rhea-AI Summary

Argyle Resources (OTCQB: ARLYF) has successfully closed its non-brokered flow-through private placement, raising gross proceeds of $1,712,800. The company issued FT Units at $0.58 per unit, with each unit comprising one flow-through share and half a warrant. Each whole warrant allows purchasing one common share at $0.68 within 24 months.

As finder's fees, Argyle paid $102,767.98 in cash and issued 177,180 broker warrants. The proceeds will fund exploration activities at the company's properties in Québec and Ontario. All securities are subject to a four-month hold period.

Positive

• Secured $1.71M in flow-through financing for exploration activities
• Strategic expansion of exploration activities in Quebec and Ontario regions
• Flow-through structure provides tax benefits for participating investors

Negative

• Dilution of existing shareholders through new share issuance
• Additional $102,767.98 in cash fees and 177,180 broker warrants as financing costs

Calgary, Alberta--(Newsfile Corp. - July 8, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that it has closed its 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 gross proceeds of up to $1,712,800.

Each FT Unit consists 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.

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.

As consideration for the services rendered by certain finders, the Company paid, in aggregate, a cash payment of $102,767.98 and issued 177,180 non-transferable common share purchase warrants (the "Broker Warrants"), with each Broker Warrant exercisable for one common share of the Company at a price of $0.68 for a period of twenty four (24) months.

The proceeds from the FT Private Placement will be used to advance the Company's exploration activities at its 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. 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: info@argyleresourcescorp.com
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258029

FAQ

How much did Argyle Resources (ARLYF) raise in its flow-through private placement?

Argyle Resources raised $1,712,800 through its flow-through private placement, issuing units at $0.58 each.

What are the terms of ARLYF's flow-through warrants?

Each whole warrant entitles holders to purchase one common share at $0.68 for a period of 24 months from issuance.

How will Argyle Resources use the proceeds from the flow-through financing?

The proceeds will be used to advance the company's exploration activities at its properties in Québec and Ontario.

What finder's fees did Argyle pay for the flow-through placement?

Argyle paid $102,767.98 in cash and issued 177,180 non-transferable broker warrants exercisable at $0.68 for 24 months.

What is the hold period for securities issued in ARLYF's flow-through placement?

All securities issued are subject to a statutory hold period of four months and one day from the closing date.