Yorbeau Resources Inc.
TSX : YRB.A

Yorbeau Resources Inc.

June 23, 2009 13:13 ET

Yorbeau Announces Rights Offering

MONTREAL, QUEBEC--(Marketwire - June 23, 2009) - Yorbeau Resources Inc. (TSX:YRB.A) ("Yorbeau" or the "Company") is pleased to announce that it will be offering rights to holders of its Class A common shares of record at the close of business on July 6, 2009 (the "Record Date"). The offering will be made in British Columbia, Alberta, Ontario and Quebec and in such other jurisdictions where the Company is eligible to make such offering. Under the offering, each eligible shareholder will receive, for each common share held as of the Record Date, one right evidenced by a fully transferable certificate. Ten rights and $0.28 will entitle the holder to subscribe for one unit of the Company (a "Unit") at any time up to 4:00 p.m. on August 14, 2009. Each Unit is comprised of one flow-through common share and one common share of the Company.

A fully subscribed rights offering would raise gross proceeds of approximately $3,720,000. The net proceeds of the offering will be used by the Company to fund an exploration program on its Rouyn property and for general working capital. The work carried out under the exploration program will qualify as Canadian exploration expense which will be renounced in favour of the Unit subscribers effective on or before December 31, 2009.

Forward-looking statements: Except for statement of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Contact Information