MONTREAL, QUEBEC — (Marketwired) — 12/04/14 — Yorbeau Resources Inc. (the „Company“) (TSX: YRB.A) is pleased to announce that it has completed a non-brokered private placement of 12,500,000 flow-through common shares at a price of $0.08 per share for gross proceeds of $1,000,000.
At closing, the Company paid a finder–s fee to M Partners Inc. of 7% of the gross proceeds of the private placement and issued finder–s warrants to purchase a total of 875,000 common shares at a price of $0.08 per share exercisable until December 3, 2016.
The Company will use the proceeds raised from the issue of the flow-through common shares to incur Canadian exploration expenses on its properties.
About Yorbeau Resources Inc.
The Company–s 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the focus of NI 43-101 technical reports that include resource estimates.
More information on the Company may be found on the Company–s website at . The raison d–etre of Yorbeau is to identify a world class gold deposit in a major mining camp.
Forward-looking statements: Except for statement of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Contacts: Gerald Riverin, Ph D., P. Geo President Yorbeau Resources Inc.
819-279-1336
G. Bodnar Jr. Director Yorbeau Resources Inc.
514-384-2202 Toll free in North America: 1-855-384-2202
Only registered users can comment.
