Deal selling 11.2 million flow-through common shares at C$0.125 each
By Devika Patel
Knoxville, Tenn., July 19 – Yorbeau Resources Inc. said it raised C$775,000 in the first tranche of a C$1.4 million private placement of stock.
The company is selling 11.2 million flow-through common shares at C$0.125 each. The price per share is a 13.64% premium to the July 18 closing share price of C$0.11. Yorbeau sold 6.2 million shares in the initial tranche.
Proceeds will be used for exploration.
The gold explorer is based in Montreal.
Issuer: | Yorbeau Resources Inc.
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Issue: | Flow-through common stock
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Amount: | C$1.4 million
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Shares: | 11.2 million
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Price: | C$0.125
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Warrants: | No
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Settlement date: | July 19 (for C$775,000)
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Stock symbol: | Toronto: YRB.A
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Stock price: | C$0.11 at close July 18
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Market capitalization: | C$28.98 million
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