By Laura Lutz
Des Moines, May 3 - Yorbeau Resources Inc. arranged a private placement of units and flow-through shares for up to C$5 million.
The company plans to sell 6.25 million units at C$0.32 per unit and 7.5 million flow-through shares at C$0.40 per share.
Each unit consists of one share and one half-share warrant with each whole warrant exercisable at C$0.45 for 18 months.
A syndicate led by Laurentian Bank Securities and including Northern Securities Inc. acted as agents.
Proceeds from the flow-through shares will be used for exploration, and proceeds from the units will be used for general corporate purposes.
Yorbeau is a Montreal-based mining company.
| Issuer: | Yorbeau Resources Inc.
|
| Issue: | Units of one share and one half-share warrant; flow-through shares
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| Amount: | C$5 million
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| Agents: | Laurentian Bank Securities (lead), Northern Securities Inc.
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| Pricing date: | May 3
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| Stock symbol: | Toronto: YRB.A
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| Stock price: | C$0.35 at close May 3
|
|
|
| Units
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| Units: | 6.25 million
|
| Price: | C$0.32
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.45
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| Flow-through shares
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| Shares: | 7.5 million
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| Price: | C$0.40
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| Warrants: | No
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