By Devika Patel
Knoxville, Tenn., Dec. 8 - Yorbeau Resources Inc. said it completed the first tranche of a C$4 million non-brokered private placement of stock for C$1.35 million.
The company sold 5.4 million common shares at C$0.25 each in this tranche.
Proceeds will be used to fund the company's 2010 exploration program.
Yorbeau is a Montreal-based mining company.
| Issuer: | Yorbeau Resources Inc.
|
| Issue: | Common stock
|
| Amount: | C$4 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 8 (for C$1.35 million)
|
| Stock symbol: | Toronto: YRB.A
|
| Stock price: | C$0.31 at close Dec. 7
|
| Market capitalization: | C$40.3 million
|
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