Yorbeau Closes $400,000 Private Placement
MONTREAL, QUEBEC--(Marketwired - Dec 23, 2015) - Yorbeau Resources Inc. (the "Company") (TSX:YRB.A) is pleased to announce that it has completed a non-brokered private placement of 3,636,363 flow-through common shares at a price of $0.11 per share for gross proceeds of $400,000.
At closing, the Company paid to Secutor Capital Management Corp. and Marquest Capital Markets a finder's fee of 8% of the gross proceeds of the private placement.
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. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.
More information on the Company may be found on the Company's website at www.yorbeauresources.com.
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.
Contact
Gerald Riverin, Ph D., P. Geo
President
Yorbeau Resources Inc.
griverin@yorbeauresources.com
819-279-1336
G. Bodnar Jr.
Director
Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
514-384-2202
Toll free in North America: 1-855-384-2202