MONTREAL, QUEBEC--(Marketwired - April 29, 2016) - Yorbeau Resources Inc. (the "Company") (TSX:YRB.A) is pleased to announce that it has completed an additional and final tranche of its previously announced private placement (see press release dated March 11, 2016) by issuing an additional 1,428,572 units at a price of $0.07 per unit for gross proceeds of $100,000. The Company has raised total gross proceeds of $850,000 under this financing.
The Company has also completed a second tranche of its previously announced flow-through private placement (see press release dated April 1, 2016) by issuing an additional 1,666,667 flow-through shares at a price of $0.105 per share for gross proceeds of $175,000. The Company has raised total gross proceeds of $800,000 under this financing.
About Yorbeau Resources Inc.
The Company's 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the focus of NI 43-101 technical reports that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.
More information on the Company may be found on the Company's website at www.yorbeauresources.com.
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.