Yorbeau Closes First Tranche of a Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
MONTREAL, QUEBEC, June 15, 2017 - Yorbeau Resources Inc. (TSX:YRB.A) (the "Company" or "Yorbeau") is pleased to announce that it has completed the first tranche of a $1,500,000 non-brokered private placement by issuing 11,999,285 common shares at a price of $0.105 per share for gross proceeds of $1,259,924.92. EMD Financial Inc. 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.
The Company also announced that its ticker for trading on the Toronto Stock Exchange, which is currently "YRB.A", will be modified to "YRB" effective at the opening of markets on June 30, 2017.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
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. The Company has signed an Option Agreement with an affiliate of Kinross Gold Corporation to pursue exploration on the Rouyn Property (see press release dated October 25, 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 (see press release dated March 30, 2017).
More information on the Company may be found on the Company's website at www.yorbeauresources.com.
For further information, please contact:
Gérald Riverin, Ph D., P. Geo
Yorbeau Resources Inc.
Tel : 819-279-1336
G. Bodnar Jr.
Yorbeau Resources Inc.
Toll free in North America: 1-855-384-2202
Forward-looking statements: Except for statement of historical fact, all statements in this news release, without limitation, regarding the aggregate size of the private placement and the use of proceeds of the private placement 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.