Yorbeau Raises $2,175,000 Pursuant to its Rights Offering.MONTREAL -- Yorbeau Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :YRB.A) ("Yorbeau") is pleased to announce that it has successfully completed its rights offering which has generated gross proceeds of $2,175,000. A total of 8,700,000 Class A shares have been issued under the offering, of which 5,800,000 are flow-through Class A shares. Yorbeau will use $1,450,000 of the proceeds to incur To become subject to and liable for; to have liabilities imposed by act or operation of law. Expenses are incurred, for example, when the legal obligation to pay them arises. An individual incurs a liability when a money judgment is rendered against him or her by a court. Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. exploration expenses on its properties and will use the balance of the proceeds for general working capital needs. On December 5, 2005 Yorbeau will commence a drilling program on its Rouyn property which will consist initially of 5,000 m of surface diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral at an estimated cost of $500,000. Yorbeau Resources Inc. (TSX:YRB.A) |
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