Calgary, Alberta – (Newsfile Corp. – October 16th, 2026) – Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) (“Argyle” or the “Company”) pleased to announce that it intends to complete a non-brokered private placement for gross proceeds of up to $300,000 and a concurrent Listed Issuer Financing Exemption (“LIFE”) offering for gross proceeds of up to $300,000, for aggregate gross proceeds of up to $600,000.
The private placement will consist of units priced at $0.23 per unit, with each unit comprising one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of $0.31 per share for a period of 24 months from closing, subject to applicable regulatory requirements.
The LIFE offering will also consist of units priced at $0.23 per unit, with each unit comprising one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of $0.31 per share for a period of 24 months from closing, subject to applicable regulatory requirements. Warrants issued under the LIFE offering will not be exercisable until 60 days following the closing date.
The Company also announced that it has entered into an advisory agreement with Canaccord Genuity Corp. (“Canaccord”) pursuant to which, subject to the approval of the CSE, the Company intends to issue 1,000,000 units of the Company (the “Advisory Units”) to Canaccord at a deemed price of $0.23 per Advisory Unit. Each Advisory Unit will consist of one Common Share and one Common Share purchase warrant, with each warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.23 for a period of 24 months from the date of issuance.
The Company intends to use the net proceeds from the offerings for exploration and development of its mineral properties, working capital and general corporate purposes.
The LIFE offering is expected to be completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issued under the LIFE offering will not be subject to a hold period in Canada in accordance with applicable securities laws.
The securities issued pursuant to the private placement will be subject to the applicable statutory hold period under Canadian securities laws.
The offerings are subject to customary closing conditions, including receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”). There can be no assurance that either offering will be completed on the terms described herein, or at all.
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: jeff@argyleresourcescorp.com
Phone: (825) 724-0033
Website: https://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, including, but not limited to, statements regarding completion and timing of the Offerings, the receipt of regulatory approval including approval of the Canadian Securities Exchange, and the Company’s intended uses of its available funds, 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 the Offerings may not be completed as contemplated, or at all; that any proceeds raised from the Offerings may not be utilized as currently intended; 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. Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.