Yorbeau Resources Inc. (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.
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