Argyle Resources Raises $300,000 in Flow-Through Private Placement for Exploration Work

Argyle Resources Corp. ( (TSE:ARGL) ) has provided an update.

Argyle Resources Corp. has closed a non-brokered private placement of 2,000,000 flow-through units at $0.15 per unit, raising approximately $300,000. Each unit consists of one flow-through common share and half a warrant, with each full warrant exercisable at $0.20 for 24 months, and the company also paid $18,000 in finder’s fees and issued 120,000 finder’s warrants. The proceeds are earmarked for qualifying Canadian exploration expenses on its mineral projects, reinforcing Argyle’s ability to fund ongoing exploration work in Québec and Ontario under tax-efficient flow-through structures, while the newly issued securities are subject to a standard four-month-plus-one-day hold period.

More about Argyle Resources Corp.

Argyle Resources Corp. is a junior mineral exploration company focused on acquiring, exploring, staking and evaluating natural resource properties in North America. The company holds 100% interests in several quartzite silica projects in Québec, including Pilgrim Islands, Matapédia, Lac Comporté and Saint Gabriel, and an option to acquire full ownership of the Clay Howell Rare Earths Project in northern Ontario. Argyle also collaborates with Québec’s National Institute of Scientific Research on exploration programs for its silica assets.

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