Versant Partners is agent; deal finances exploration on Rouyn property
By Devika Patel
Knoxville, Tenn., Dec. 7 - Yorbeau Resources Inc. said it plans a C$2 million private placement of stock. The deal has a C$1 million greenshoe.
The company will sell common shares at C$0.20 apiece, a 4.76% discount to the Dec. 6 closing share price of C$0.21. It also will sell flow-through common shares at C$0.25 apiece, a 19.05% premium to the Dec. 6 closing share price.
The deal will be conducted on a best-efforts basis by Versant Partners Inc.
Settlement is expected Dec. 20.
Proceeds will be used for the company's exploration program on its Rouyn property, while the non flow-through portion of the financing will be used for general corporate purposes.
The gold explorer is based in Montreal.
| Issuer: | Yorbeau Resources Inc.
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| Issue: | Common shares, flow-through common shares
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| Amount: | C$2 million
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| Greenshoe: | C$1 million
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| Warrants: | No
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| Agent: | Versant Partners Inc.
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 20
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| Stock symbol: | TSX Venture: YRB.A
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| Stock price: | C$0.21 at close Dec. 7
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| Market capitalization: | C$35.26 million
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|
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| Common stock
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| Price: | C$0.20
|
|
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| Flow-through stock
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| Price: | C$0.25
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