Argyle Resources Receives Final Approval for 5:1 Share Consolidation

Rhea-AI Summary

Argyle Resources (OTCQB: ARLYF) received final approvals, including from the CSE, to proceed with a 5:1 share consolidation of its common shares. The move is intended to improve the capital structure and flexibility for future corporate and financing initiatives.

Post-consolidation, shares will keep the ticker ARGL, use new CUSIP 04031A201 and ISIN CA04031A2011, and outstanding shares are expected to decrease from about 56.9M to approximately 11.37M, subject to fractional share adjustments.

AI-generated analysis. Not financial advice.

Positive

• All required approvals, including CSE approval, obtained for 5:1 share consolidation
• Outstanding share count expected to drop from ~56.87M to ~11.37M post-consolidation
• Consolidation aims to improve capital structure and financing flexibility
• Shares continue trading under existing CSE ticker ARGL with new CUSIP and ISIN

Negative

• None.

Calgary, Alberta--(Newsfile Corp. - May 21, 2026) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") announces that, further to its previously announced proposed consolidation of its issued and outstanding common shares on the basis of five (5) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation"), the Company has received all required approvals, including approval from the Canadian Securities Exchange ("CSE"), to proceed.

The Consolidation is intended to improve the Company's capital structure and provide greater flexibility in pursuing future corporate initiatives and financing opportunities.

The Company's common shares will begin trading on a post-Consolidation basis under the existing ticker symbol ARGL.

Consolidation Details

• Consolidation Ratio: 5:1 (five pre-Consolidation shares for one post-Consolidation share)

• Ticker Symbol: ARGL

• New CUSIP: 04031A201

• New ISIN: CA04031A2011

No fractional common shares will be issued as a result of the Consolidation. Any fractional interests will be rounded in accordance with applicable securities laws and CSE policies.

Shareholders holding their shares through a broker, bank, trust company, or other intermediary are not required to take any action. Their holdings will be automatically adjusted to reflect the Consolidation.

The Company currently has approximately 56,870,298 common shares issued and outstanding. Following completion of the Consolidation, the Company expects to have approximately 11,374,060 common shares issued and outstanding, subject to adjustments for fractional shares and 3,705,218 common shares reserved for issuance

About Argyle Resources Corp.

Argyle Resources Corp. is a junior mineral exploration company engaged in the acquisition, exploration, staking and evaluation of natural resource properties in North America. The Company holds a 100% interest in the Pilgrim Islands, Matapédia, Lac Comporté and Saint Gabriel quartzite-silica projects in Québec, Canada, and has entered into an option agreement to acquire a 100% interest in the McKay Hill silver-gold property in Yukon, Canada.

For all other inquiries:

Jeff Stevens
Chief Executive Officer
Argyle Resources Corp.

Email: info@argyleresourcescorp.com

Phone: (825) 724-0033

Website: www.argyleresourcescorp.com

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to future events or future performance and include statements regarding the Consolidation, the expected number of post-Consolidation shares, and the Company's future corporate initiatives and financing opportunities. Forward-looking statements are based on management's current expectations and assumptions and are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298322

FAQ

What is the ratio of the Argyle Resources (OTCQB: ARLYF) share consolidation approved in May 2026?

Argyle Resources is implementing a 5:1 share consolidation, meaning five pre-consolidation shares become one post-consolidation share. According to Argyle Resources, this consolidation is intended to improve its capital structure and enhance flexibility for future corporate and financing initiatives.

How many Argyle Resources (OTCQB: ARLYF) shares will be outstanding after the 5-for-1 consolidation?

After the 5-for-1 consolidation, Argyle Resources expects about 11,374,060 common shares outstanding. According to Argyle Resources, this is down from approximately 56,870,298 pre-consolidation shares, with the final number subject to adjustments for fractional share rounding.

Do Argyle Resources (OTCQB: ARLYF) shareholders need to take any action for the 5:1 share consolidation?

Most Argyle Resources shareholders do not need to take action for the consolidation. According to Argyle Resources, investors holding through brokers, banks, trust companies, or other intermediaries will see their positions automatically adjusted to reflect the 5-for-1 share consolidation.

What ticker symbol and identifiers will Argyle Resources shares use after the May 2026 consolidation?

Post-consolidation, Argyle Resources will continue trading on the CSE under ticker ARGL. According to Argyle Resources, the shares will have new identifiers: CUSIP 04031A201 and ISIN CA04031A2011, reflecting the completed 5:1 share consolidation.

How will Argyle Resources (OTCQB: ARLYF) handle fractional shares from the 5-for-1 consolidation?

No fractional common shares will be issued in the consolidation. According to Argyle Resources, any fractional interests arising from the 5:1 share consolidation will be rounded in accordance with applicable securities laws and Canadian Securities Exchange policies.