Deal, at C$0.21 per unit, funds exploration drilling on Rouyn property
By Devika Patel
Knoxville, Tenn., Dec. 1 - Yorbeau Resources Inc. said it plans a private placement of units. It will raise C$3.32 million.
The company will sell 15.8 million units of one common share and one half-share warrant at C$0.21 apiece. Each whole warrant is exercisable at C$0.35 for 18 months.
The strike price is a 66.67% premium to the Nov. 30 closing share price of C$0.21.
Proceeds will be used for an exploration drilling program on the Rouyn property, to prepare a NI 43-101 resource calculation for the Augmitto deposit and for general corporate expenses.
Yorbeau is a Montreal-based mining company.
| Issuer: | Yorbeau Resources Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3,318,000
|
| Units: | 15.8 million
|
| Price: | C$0.21
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Pricing date: | Dec. 1
|
| Stock symbol: | Toronto: YRB.A
|
| Stock price: | C$0.21 at close Nov. 30
|
| Market capitalization: | C$34.42 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
