Argyle Announces Closing of Private Placement

Core Viewpoint - Argyle Resources Corp. has successfully closed a non-brokered private placement, raising approximately $300,000 through the issuance of 2,000,000 units at a price of $0.15 per unit [1] Group 1: Private Placement Details - The private placement consists of units that include one flow-through common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.20 for 24 months [1] - The proceeds from the private placement will be allocated to Canadian exploration expenses, qualifying as flow-through mining expenditures under the Income Tax Act (Canada) [2] - The company incurred $18,000 in cash finder's fees and issued 120,000 finder's warrants, each exercisable for one common share at $0.20 for 24 months [2] Group 2: Securities Information - The securities issued under the private placement are subject to a hold period of four months and one day [3] - The securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or applicable exemptions [4] Group 3: Company Overview - Argyle Resources Corp. is a junior mineral exploration company focused on acquiring, exploring, and evaluating natural resource properties in North America [5] - The company owns a 100% interest in several silica projects in Québec, Canada, and has an option to acquire the Clay Howell Rare Earths Project in northern Ontario [5] - Argyle is engaged in a research partnership with the National Institute of Scientific Research to conduct exploration programs on its silica projects [5]