Yorbeau Closes Second Tranche of Private Placement

By IBTimes Staff Reporter | December 18 2009 3:41 PM

Yorbeau Resources Inc. announced that the Company has closed a second tranche of an equity private placement financing of up to $4 M. Under this second tranche, the Company has issued 5,516,000 common shares at a price of $0.25 per share for gross proceeds of $1,379,000. To date, the Company has raised a total of $2,729,000 under this financing and expects to close the third and final tranche in early January 2010. Proceeds of the offering will be used primarily to fund the Company's 2010 exploration program on its Rouyn property which will commence in early January.

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