Deal sells units of one share, a half-share warrant at C$0.18 per unit
By Devika Patel
Knoxville, Tenn., March 6 - Yorbeau Resources Inc. said it raised C$300,000 in the third tranche of a C$2 million non-brokered private placement of units. The deal raised C$1 million on Jan. 28 and C$200,000 on Feb. 14.
The company is selling units of one common share and one half-share warrant at C$0.18 per unit. It sold 5,555,556 units in the initial tranche, 1,111,112 units in the second tranche and 1,666,668 units in the third tranche.
Each whole warrant is exercisable at C$0.30 until Dec. 31, 2015. The strike price reflects an 87.5% premium to the Jan. 27 closing share price of C$0.16.
Proceeds will be used to retire debt and for working capital.
The gold explorer is based in Montreal.
| Issuer: | Yorbeau Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 31, 2015
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement dates: | Jan. 28 (for C$1 million), Feb. 14 (for C$200,000), March 6 (for C$300,000)
|
| Stock symbol: | Toronto: YRB.A
|
| Stock price: | C$0.16 at close Jan. 27
|
| Market capitalization: | C$29.69 million
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