By Laura Lutz
Des Moines, June 6 - Yorbeau Resources Inc. completed a private placement of units and flow-through shares for C$4.565 million, down from the C$5 million maximum deal size announced on May 3.
The company sold 6.25 million units at C$0.32 per unit and 6,412,500 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.
When the placement priced on May 3, it was expected to include up to 6.25 million units and up to 7.5 million flow-through shares.
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
|
| Amount: | C$4.565 million
|
| Agents: | Laurentian Bank Securities (lead), Northern Securities Inc.
|
| Pricing date: | May 3
|
| Settlement date: | June 6
|
| Stock symbol: | Toronto: YRB.A
|
| Stock price: | C$0.35 at close May 3
|
| Stock price: | C$0.35 at close June 6
|
|
|
| Units
|
| Units: | 6.25 million
|
| Price: | C$0.32
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
|
|
| Flow-through shares
|
| Shares: | 6,412,500
|
| Price: | C$0.40
|
| Warrants: | No
|
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