Yorbeau Closes 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 NON-BROKERED PRIVATE PLACEMENT
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Montreal, October 3, 20 22 – Yorbeau Resources Inc. (TSX: YRB) (the " Company"
or "Yorbeau") is pleased to announce that it has completed a fully-subscribed private placement
(the "Private Placement ") by issuing 25,000,000 Class A common shares composed of (i)
12,500,000 "flow-through" Class A common shares at a price of $0.0 45 per share and (ii)
12,500,000 non-flow-through Class A common shares at a price of $0.0 35 per share for an
aggregate gross proceeds of $1,000,000.00.
The Company will use the proceeds raised from the 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.
Five insiders subscribed for a total of 18,250,000 Class A common shares having an aggregate
subscription price of $ 730,000.00. 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 Mi nority Security Holders in Special Transactions
("MI 61-101"). The Private Placement 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 Private
Placement as participation of the insiders had not been confirmed at that time.
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.
About Yorbeau Resources Inc.
The Rouyn Property, wholly -owned by the Company, contains four known gold deposits in the
6-km-long Augmitto-Astoria corridor situated on the western portion of the property. The
Company signed a definitive agreement in December 2018, whereby IAMGOLD has the option
to acquire a 100% interest in the Rouyn property, and a major drilling program is underway. Two
of the four deposits, Astoria and Augmitto, benefit from substantial underground infrast ructure
and have been the subject of technical reports that include resource estimates and that were
filed in accordance with Regulation 43 -101. In 2015, the Company expanded its exploration
property portfolio by acquiring strategic base metal properties i n prospective areas of the Abitibi
YORBEAU RESOURCES INC.
50 Place Crémazie, Suite 403, Montréal, QC, H2P 2T1
www.yorbeauresources.com
Belt of Quebec that feature infrastructure favourable for mining development. The newly
acquired base metal properties include the Scott Project in Chibougamau, which bears
important mineral resources (see the press release dated March 30, 2017) and on which a
positive Preliminary Economic Assessment was recently completed.
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 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 statem ents. Yorbeau disclaims any
obligation to update such forward- looking statements, other than as required by applicable
securities laws.