Argyle Resources Announces Appointment of Michael Yeung as Chief Financial Officer

Rhea-AI Summary

Argyle Resources Corp. (CSE: ARGL, OTC Pink: ARLYF, FSE: ME0) has announced two significant changes: the appointment of Michael Yeung as Chief Financial Officer and the engagement of Independent Trading Group, Inc. (ITG) as a market maker for its shares on the Canadian Securities Exchange (CSE).

Michael Yeung brings over 18 years of experience in public and private markets, with expertise in financial oversight, strategic planning, and risk management. He replaces Christian Grundling in the CFO role. ITG, a leading Canadian broker dealer, will provide liquidity and execution services to enhance the trading experience for Argyle's investors. The contract with ITG is for an initial three-month period, with automatic monthly extensions, at a monthly fee of CDN $5,500.

Positive

• Appointment of experienced CFO Michael Yeung with 18 years of market expertise
• Engagement of Independent Trading Group (ITG) as market maker to enhance share liquidity
• Potential for improved trading experience and market efficiency for ARLYF shares

Negative

• Monthly cost of CDN $5,500 for market making services

Calgary, Alberta--(Newsfile Corp. - August 19, 2024) - Argyle Resources Corp. (CSE: ARGL) (OTC Pink: ARLYF) (FSE: ME0) ("Argyle" or "the Company") is pleased to announce the appointment of Mr. Michael Yeung as Chief Financial Officer. With over 18 years of experience in public and private debt and equity markets, Mr. Yeung has held executive roles in both public and private companies. His expertise spans across various leadership positions, including CEO, CFO, and member of the board of directors. He has demonstrated proficiency in financial oversight, strategic financial planning, risk management, and investor relations. As CFO, Mr. Yeung effectively managed financial operations, implemented financial controls, and played a pivotal role in driving the financial health and growth of the organizations he served. His strategic insights and financial acumen have been instrumental in optimizing capital allocation, enhancing financial reporting, and ensuring compliance with regulatory requirements, contributing significantly to the overall success of the companies under his leadership.

Mr. Yeung replaces Mr. Christian Grundling. The Company thanks Mr. Grundling for his services and wishes him success in his future endeavors.

The Company is also pleased to announce that it has appointed Independent Trading Group, Inc. (" ITG ") as a market maker for its shares traded on the Canadian Securities Exchange (" CSE ").

ITG is a leading Canadian broker dealer, providing liquidity and execution services to clients around the world. As a market maker for Argyle, ITG will strive to enhance the liquidity of, and contribute to a fair and orderly market for Argyle's shares in accordance with the policies of the CSE by buying and selling Argyle's shares on the CSE as well as other alternative Canadian trading venues.

Jeff Stevens, CEO of Argyle, commented, "ITG brings tremendous experience and commitment to outstanding client service, which we believe will help Argyle deliver the best possible trading experience for our investors. This is an important step forward for the Company and we are eager to work with ITG."

"ITG is excited to be working with Argyle to provide market-making services to their growing shareholder base," said ITG's Managing Director, Jeff Gamble. "Our experienced traders and proven technology will help to provide a liquid and efficient trading environment for Argyle shares."

ITG is a wholly owned subsidiary of DVX Capital Markets. The contract with ITG is for a three month period, with automatic monthly extensions thereafter for a monthly fee of CDN $5,500. ITG will not receive shares or options as compensation for its services. ITG and Argyle are unrelated and unaffiliated entities and, at the time of the agreement for ITG's services, to the knowledge of the Company, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

About Independent Trading Group

Independent Trading Group, Inc. is a Toronto based IIROC dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

ON BEHALF OF THE BOARD OF DIRECTORS

Jeffrey Stevens
President & CEO

About Argyle Resources Corp.

Argyle Resources Corp. is a junior mineral exploration company engaged in the business of acquiring, exploring, staking and evaluating natural resource properties in North America. The Company currently holds an option to acquire up to 100% of the Frenchvale Graphite Property located in Nova Scotia, Canada and owns 100% interest in the Pilgrim Islands, Matapedia and Lac Comporte quartzite silica projects in Quebec, Canada. Argyle is engaged in a research partnership with the National Institute of Scientific Research (INRS), a high-level research and training institute funded by the Quebec government to conduct exploration programs on the Company's silica projects. The Company was incorporated in 2023 and its head office is located in Calgary, Alberta, Canada.

For all inquiries: info@argylresourcescorp.com

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the services offered under the contract and successful enhanced market conditions. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be", "intends", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by management of the Company, they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220442

FAQ

Who is the new CFO of Argyle Resources (ARLYF)?

Michael Yeung has been appointed as the new Chief Financial Officer of Argyle Resources Corp. (ARLYF).

What experience does Michael Yeung bring to Argyle Resources (ARLYF)?

Michael Yeung brings over 18 years of experience in public and private debt and equity markets, with expertise in financial oversight, strategic planning, risk management, and investor relations.

Who has Argyle Resources (ARLYF) appointed as its market maker?

Argyle Resources (ARLYF) has appointed Independent Trading Group, Inc. (ITG) as its market maker for shares traded on the Canadian Securities Exchange (CSE).

What is the duration and cost of Argyle Resources' (ARLYF) contract with ITG?

The contract with ITG is for an initial three-month period, with automatic monthly extensions, at a monthly fee of CDN $5,500.