Yorbeau Closes a $985,000 Private Placement
MONTREAL, QUEBEC--(Marketwired - Dec. 23, 2016) - Yorbeau Resources Inc. (TSX:YRB.A) (the "Company" or "Yorbeau") is pleased to announce that it has completed a non-brokered private placement of 7,576,922 flow-through common shares at a price of $0.13 per share for gross proceeds of $984,999.86. Secutor Capital Management Corp. acted as finder in connection with such 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 subject of NI 43-101 technical reports that include resource estimates. Yorbeau and Kinross Gold Corp. ("Kinross") have recently signed an option agreement providing for the grant to Kinross of an option to acquire a 100% interest in the Company's Rouyn Property (see press releases dated October 25, 2016 and December 14, 2016). In 2015, the Company 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. The newly acquired base metal properties include Scott Lake which hosts important mineral resources. The Company also owns the Beschefer project immediately adjacent to SOQUEM's B-26 deposit and where, regionally, exploration interest has been increasing.
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.
Vice President
Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
514-384-2202
Toll free in North America: 1-855-384-2202
