Deal selling 11.2 million flow-through common shares at C$0.125 each
By Devika Patel
Knoxville, Tenn., Aug. 29 – Yorbeau Resources Inc. said it raised C$400,000 in the second tranche of a C$1.4 million private placement of stock. The deal raised C$775,000 on July 19.
The company is selling 11.2 million flow-through common shares at C$0.125 each. The price per share is a 13.64% premium to the July 18 closing share price of C$0.11. Yorbeau sold 6.2 million shares in the initial tranche and 3.2 million shares in the second tranche.
Proceeds will be used for exploration.
The gold explorer is based in Montreal.
| Issuer: | Yorbeau Resources Inc.
|
| Issue: | Flow-through common stock
|
| Amount: | C$1.4 million
|
| Shares: | 11.2 million
|
| Price: | C$0.125
|
| Warrants: | No
|
| Settlement dates: | July 19 (for C$775,000), Aug. 29 (for C$400,000)
|
| Stock symbol: | Toronto: YRB.A
|
| Stock price: | C$0.11 at close July 18
|
| Market capitalization: | C$29.66 million
|
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