Yorbeau Closes First and Second Tranches of Non-Brokered Private Placement
YORBEAU RESOURCES INC.
50 Place Crémazie, Suite 403, Montréal, QC, H2P 2T1
www.yorbeauresources.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU CLOSES FIRST AND SECOND TRANCHES OF NON-BROKERED PRIVATE
PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Montreal, June 30, 202 3 – Yorbeau Resources Inc. (TSX: YRB) (the "Company"
or "Yorbeau") is pleased to announce that it has completed the first and second tranches of a
$1,200,000 private placement (the "Private Placement ") by issuing (i) on June 29, 2023,
10,037,381 Class A common shares comprised of 4,121,667 "flow-through" Class A common
shares at a price of $0.07 per share and 5,915,714 non-flow-through Class A common shares at
a price of $0.035 per share for an aggregate gross proceeds of $495,567 and (ii) on June 30,
2023, 5,350,000 Class A common shares comprised of 2,210,000 “flow -through” Class A
common shares at a price of $0.07 per share and 3,140,000 non -flow-through Class a common
shares at a price of $0.035 per share for aggregate gross proceeds of $264,600. The first and
second tranches of the Private Placement generated an aggregate of $760,167 in gross
proceeds for the Company . The Company expects to close the remainder of the Private
Placement in July 2023.
The Company will use the proceeds raised from t he issue of the flow -through Class A common
shares to incur Canadian exploration expenses on its properties and the proceeds raised from
the issue of the non-flow-through Class A common shares for general corporate purposes.
Three insiders subscribed for a total of 8,008,571 Class A common shares having an aggregate
subscription price of $ 395,800. As insiders of the Company participated in the Private
Placement, it is deemed to be a "related party transaction" as defined under Multilateral
Instrument 61- 101—Protection of Minority Security Holders in Special Transactions
("MI 61-101"). The Private P lacement is exempt from the formal valuation and minority
shareholder approval requirements of MI 61- 101 (pursuant to subsections 5.5(a) and 5.7(a)) as
neither the fair market value of the Class A common shares distributed to, nor the consideration
received from, interested parties exceeded 25% of the Company ’s market capitalization. The
Company did not file a material change report at least 21 days prior to the closing of the first
and second tranches of the Private Placement as participation of the insiders had not been
confirmed at that time.
The Company paid finder fees in the aggregate amount of $18,023 with respect to a portion of
the first and second tranches of the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities
laws and may not be offered or sold within the United States or to, or for the account or benefit
of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an
applicable exemption from such registration requirements.
YORBEAU RESOURCES INC.
50 Place Crémazie, Suite 403, Montréal, QC, H2P 2T1
www.yorbeauresources.com
About Yorbeau Resources Inc.
Yorbeau Resources Inc. is a Canadian public company (TSX: YRB) involved in gold and base
metal exploration in Quebec, Canada. Its properties are in northwestern area of the province
containing many significant deposits on the famed Abitibi Greenstone Belt, including major gold
mines along the Larder Lake- Cadillac Break and several volcanic centers hosting major
copper-zinc-gold deposits.
Yorbeau is focusing on its Rouyn Gold and Scott Lake Zinc -Copper projects which have
demonstrated the most immediate and substantial prospects for discovery and eventual mine
development. While Scott is very favorably located in the Chibougamau mining camp, Rouyn
represents a consolidation of several contiguous properties strategically located on the famously
productive Cadillac Break in the Rouyn- Noranda Mining Camp. Other holdings of the Company
include its interest in the past producing Joutel Gold Mining Camp and the Beschefer Property
adjacent to SOQUEM’s B-26 deposit in the Selbaie Mine area.
For more information, please visit our website at http://www.yorbeauresources.com.
For further information, please contact:
G. Bodnar Jr.
President, Chief Financial Officer
Yorbeau Resources Inc.
Tel: 514-384-2202
Toll free in North America: 1-855-384-2202
Forward-looking statements: Except for statement of historical fact, all statements in this
news release, including, without limitation, statements regarding the use of proceeds of the
Private Placement and the timing of closing of the balance of the Private Placement 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. Yorbeau disclaims any obligation to
update such forward-looking statements, other than as required by applicable securities laws.