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Argyle Resources Appoints Marianne Richer-Lafleche as Director and Issues Intial Option Grant to the Board of Directors

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Argyle Resources Corp. (CSE: ARGL) has appointed Marianne Richer-Lafleche to its board of directors, replacing Binny Jassal. Richer-Lafleche, a lawyer specializing in M&A and corporate governance, brings valuable experience to the company as it focuses on its Quebec-based silica assets. Argyle has also replaced its existing option plan with an Omnibus Equity Incentive Plan, subject to shareholder approval. The company granted 1,500,000 stock options to directors and officers at $0.92 per share, exercisable for five years, and 200,000 restricted share units to a consultant. Argyle has launched a new website at www.argyleresourcescorp.com.

Argyle Resources Corp. (CSE: ARGL) ha nominato Marianne Richer-Lafleche nel suo consiglio di amministrazione, sostituendo Binny Jassal. Richer-Lafleche, avvocato specializzato in M&A e governance aziendale, porta un'esperienza preziosa all'azienda mentre si concentra sui suoi asset in silice situati in Quebec. Argyle ha inoltre sostituito il suo piano opzioni esistente con un Omnibus Equity Incentive Plan, soggetto all'approvazione degli azionisti. L'azienda ha concesso 1.500.000 opzioni su azioni ai membri del consiglio e ai dirigenti a $0,92 per azione, esercitabili per cinque anni, e 200.000 unità di azioni vincolate a un consulente. Argyle ha lanciato un nuovo sito web all'indirizzo www.argyleresourcescorp.com.

Argyle Resources Corp. (CSE: ARGL) ha nombrado a Marianne Richer-Lafleche en su junta directiva, reemplazando a Binny Jassal. Richer-Lafleche, abogada especializada en M&A y gobernanza corporativa, aporta una valiosa experiencia a la empresa mientras se enfoca en sus activos de sílice en Quebec. Argyle también ha reemplazado su plan de opciones existente por un Omnibus Equity Incentive Plan, sujeto a la aprobación de los accionistas. La compañía otorgó 1.500.000 opciones sobre acciones a directores y funcionarios a $0,92 por acción, que pueden ejercerse durante cinco años, y 200.000 unidades de acciones restringidas a un consultor. Argyle ha lanzado un nuevo sitio web en www.argyleresourcescorp.com.

Argyle Resources Corp. (CSE: ARGL)는 Marianne Richer-Lafleche를 이사회에 임명하고 Binny Jassal을 교체했습니다. M&A 및 기업 거버넌스를 전문으로 하는 변호사인 Richer-Lafleche는 퀘벡 기반 실리카 자산에 집중하는 회사에 소중한 경험을 제공합니다. Argyle은 또한 기존의 옵션 계획을 Omnibus Equity Incentive Plan으로 교체했으며, 이는 주주 승인을 받아야 합니다. 회사는 이사 및 임직원에게 주당 $0.92로 1,500,000주의 주식 옵션을 부여하였고, 컨설턴트에게는 200,000개의 제한 주식 유닛을 부여했습니다. Argyle은 www.argyleresourcescorp.com에서 새 웹사이트를 출시했습니다.

Argyle Resources Corp. (CSE: ARGL) a nommé Marianne Richer-Lafleche au sein de son conseil d'administration, remplaçant Binny Jassal. Richer-Lafleche, avocate spécialisée en fusions et acquisitions et en gouvernance d'entreprise, apporte une expérience précieuse à la société alors qu'elle se concentre sur ses actifs en silice basés au Québec. Argyle a également remplacé son plan d'options existant par un Omnibus Equity Incentive Plan, sous réserve de l'approbation des actionnaires. La société a accordé 1.500.000 options sur actions aux administrateurs et aux dirigeants au prix de 0,92 $ par action, exerçables pendant cinq ans, ainsi que 200.000 unités d'actions restreintes à un consultant. Argyle a lancé un nouveau site Web à l'adresse www.argyleresourcescorp.com.

Argyle Resources Corp. (CSE: ARGL) hat Marianne Richer-Lafleche in seinen Vorstand berufen und Binny Jassal ersetzt. Richer-Lafleche, eine Anwältin, die auf M&A und Unternehmensführung spezialisiert ist, bringt wertvolle Erfahrung in das Unternehmen, das sich auf seine Siliziumvorkommen in Quebec konzentriert. Argyle hat auch seinen bestehenden Optionsplan durch einen Omnibus Equity Incentive Plan ersetzt, der der Genehmigung der Aktionäre bedarf. Das Unternehmen hat 1.500.000 Aktienoptionen an Direktoren und Führungskräfte zu einem Preis von 0,92 $ pro Aktie gewährt, die für fünf Jahre ausgeübt werden können, sowie 200.000 Restricted Share Units an einen Berater vergeben. Argyle hat eine neue Website unter www.argyleresourcescorp.com gestartet.

Positive
  • Appointment of Marianne Richer-Lafleche, bringing M&A and corporate governance expertise to the board
  • Implementation of new Omnibus Equity Incentive Plan, potentially aligning management interests with shareholders
  • Granting of stock options and RSUs, potentially incentivizing key personnel
Negative
  • Departure of board member Binny Jassal, potentially losing valuable experience
  • New Omnibus Plan and equity grants subject to shareholder approval, creating uncertainty

Calgary, Alberta--(Newsfile Corp. - August 13, 2024) - Argyle Resources Corp. (CSE: ARGL) ("Argyle" or the "Company") a mineral exploration company, is pleased to announce that Marianne Richer-Laflèche has been appointed to the board of directors of the Company (the "Board") effective immediately. In conjunction with the appointment, Mr. Binny Jassal will be stepping down.

Ms. Richer-Laflèche is a lawyer at BCF LLP, Montréal office, where she specializes in mergers and acquisitions, investment funds, corporate governance and commercial contract drafting. Prior to joining BCF, Ms. Richer-Laflèche worked at another major Canadian law firm, where she was seconded on two occasions to clients in the financial services and consulting engineering sectors. Ms. Richer-Laflèche is a graduate of Université Laval and is currently completing a master's degree at the London School of Economics and Political Sciences. She has acted as director and corporate secretary for several organizations, and is a member of the board of various private organizations and public companies

"Marianne brings a wealth of experience in M&A, commercial contracts and corporate governance that will be a great addition to our board. In addition to her legal background, adding a French speaking board member to the team is critical as we ramp up exploration on our Quebec based silica assets," said Jeff Stevens, CEO. "I'd also like to thank Mr. Binny Jassal on behalf of the board for all his efforts and guidance as we transitioned Argyle from a private company to a public company. He's been a valuable contributor, and we wish him well on all his future endeavours."

The Company also announces that the Board has approved the replacement of its existing 10% rolling option plan to an Omnibus Equity Incentive Plan ("Omnibus Plan"). Pursuant to the Omnibus Plan, the number of common shares in the authorized share structure of the Company ("Common Shares") reserved for issuance pursuant to Options granted under the Omnibus Plan will not, in the aggregate, exceed 10% of the then issued and outstanding Common Shares on a rolling basis, and the maximum number of Common Share issuable pursuant to SARs, RSUs, DSUs, and PSUs issued under the Omnibus Plan shall not exceed, in the aggregate, such number of Common Shares representing 10% of the issued and outstanding Common Shares as at the Effective Date. The Omnibus Plan is subject to shareholder approval at the Company's next annual general meeting.

In addition, the Company has granted 1,500,000 stock options ("Options") to certain directors and officers, pursuant to its Omnibus Plan, at an exercise price of $0.92 per share. The Options will be exercisable for a period of five years and will vest quarterly for a period of one year. The Company has granted 200,000 restricted share units ("RSUs") to a consultant of the Company, pursuant to the Company's Omnibus plan. The Options and RSUs granted under the Omnibus Plan are subject to shareholder approval at the Company's next annual general meeting.

The Company is also excited to announce the launch of its new website, with the new domain being www.argyleresourcescorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Jeffrey Stevens

President & CEO

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 National Institute of Scientific Research (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.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in such statements. The Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219747

FAQ

Who is the new director appointed to Argyle Resources Corp (ARLYF)?

Marianne Richer-Lafleche, a lawyer specializing in mergers and acquisitions, investment funds, and corporate governance, has been appointed as the new director of Argyle Resources Corp (ARLYF).

What changes were made to Argyle Resources Corp's (ARLYF) equity incentive plan?

Argyle Resources Corp (ARLYF) replaced its existing 10% rolling option plan with an Omnibus Equity Incentive Plan, which includes options, SARs, RSUs, DSUs, and PSUs, subject to shareholder approval at the next annual general meeting.

How many stock options did Argyle Resources Corp (ARLYF) grant in August 2024?

Argyle Resources Corp (ARLYF) granted 1,500,000 stock options to certain directors and officers at an exercise price of $0.92 per share, exercisable for a period of five years.

What is the new website domain for Argyle Resources Corp (ARLYF)?

The new website domain for Argyle Resources Corp (ARLYF) is www.argyleresourcescorp.com.

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