Deal sells units of one share, a half-share warrant at C$0.18 per unit
By Devika Patel
Knoxville, Tenn., March 25 - Yorbeau Resources Inc. said it raised C$212,700 in the fourth and final tranche of a C$1.71 million non-brokered private placement of units. The deal raised C$1 million on Jan. 28, C$200,000 on Feb. 14 and C$300,000 on March 6. The offering priced for C$2 million.
The company sold 9,515,002 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, 1,666,668 units in the third tranche and 1,181,666 units in the fourth 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$1,712,700
|
| Units: | 9,515,002
|
| 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 date: | Jan. 28 (for C$1 million), Feb. 14 (for C$200,000), March 6 (for C$300,000), March 25 (for C$212,700)
|
| Stock symbol: | Toronto: YRB.A
|
| Stock price: | C$0.16 at close Jan. 27
|
| Market capitalization: | C$29.23 million
|
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