Argyle Resources Corp. Announces Closing of Second Tranche of Private Placement Offering
Argyle Resources Corp. Announces Closing of
Second Tranche of Private Placement Offering
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2025) -
Argyle Resources Corp.
(
CSE:
ARGL)
(OTCQB: ARLYF) (FSE: ME0) ("
Argyle
" or the "
Company
") is pleased to announce that it has
closed a second tranche of its previously-announced non-brokered private placement for aggregate
gross proceeds of $126,000 through the issuance of 300,000 units (each, a "
Unit
"), at a price of $0.42
per Unit, for gross proceeds of approximately $995,400 (the "
Offering
").
Each Unit is comprised of one (1) common share of the Company (a "
Common Share
") and one
common share purchase warrant ("
Warrant
"), with each Warrant entitling the holder to purchase one
Common Share at a price of $0.53 for a period of 24 months from the date of the closing.
The Company intends to use the net proceeds of the Offering for expenditures on its mineral exploration
properties, and for general working capital purposes.
All securities issued under the Offering are subject to a four-month and one-day hold period.
The securities issued pursuant to the Offering have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an
applicable exemption from the U.S. registration requirements. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the
United States or in any other 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 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 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 other inquiries:
Email:
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
included in this news release such as statements regarding the contemplated use of proceeds from
the Private Placement, are forward-looking statements that involve risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations include but are not limited to the
risks detailed from time to time in the filings made by the Company with securities regulators. The
reader is cautioned that assumptions used in the preparation of any forward-looking information may
prove to be incorrect. Events or circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company.
Factors that could cause actual results to vary from forward-looking statements or may affect the
operations, performance, development and results of the Company's business include, among other
things, that mineral exploration is inherently uncertain and may be unsuccessful in achieving the
desired results; that mineral exploration plans may change and be re-defined based on a number of
factors, many of which are outside of the Company's control; the Company's ability to access sources
of debt and equity capital; competitive factors, pricing pressures and supply and demand in the
Company's industry. Such information, although considered reasonable by management at the time
of preparation, may prove to be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news release are expressly qualified by this
cautionary statement. The forward-looking statements contained in this news release are made as of
the date of this news release and the Company will update or revise publicly any of the included
forward-looking statements as expressly required by applicable law.
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/242004