Yorbeau Resources Inc.
TSX : YRB.A

Yorbeau Resources Inc.

December 07, 2011 16:39 ET

Yorbeau Announces a $2,000,000 Private Placement

MONTREAL, QUEBEC--(Marketwire - Dec. 7, 2011) - Yorbeau Resources Inc. (the "Company") (TSX:YRB.A) is pleased to announce it has entered into an agreement with Versant Partners Inc. (the "Agent"), acting as exclusive Agent, to raise up to $2,000,000 by way of a marketed private placement issuing a combination of Flow-Through Shares at a price of $0.25 per Flow-Through Share and Common Shares at a price of $0.20 per Common Share.

The Offering will be carried out by the Agent on a best effort basis. The Company granted the Agent a Broker's Option to potentially increase the size of the financing by 50%.

Completion of the private placement is subject to certain conditions, including satisfactory due diligence by the Agent and receipt of all necessary regulatory approvals. Closing of the private placement is expected to take place on or about December 20, 2011.

The proceeds of the flow-through portion of the financing will be used to fund 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 securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the benefit of U.S. persons except in certain transactions exempt from the registration requirements of such Act. This news release shall not constitute an offer to sell nor the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Yorbeau Resources Inc.

The raison d'être of Yorbeau is to identify a world class gold deposit in a major mining camp. Against the backdrop of a market that is steadily more welcoming for gold, Yorbeau is poised to significantly increase the known gold resources on its properties in Northern Quebec.

Contact Information