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Yorbeau announces approval by its shareholders of the potential sale of the Rouyn Property under the option granted to IAMGOLD Corporation
Yorbeau announces approval by its shareholders of the potential sale of the Rouyn Property...
About this update from Yorbeau Resources, Inc. Class A
[{"type":"text","content":"\n\n\n\nYorbeau announces approval by its shareholders of the potential sale of the Rouyn Property under the option granted to IAMGOLD Corporation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Dec. 19, 2018\n\n\n\nMONTREAL, Dec. 19, 2018 /CNW Telbec/ - Yorbeau Resources Inc. (TSX: YRB) (\"Yorbeau\" or the \"Company\") is pleased to announce that, at the special meeting of shareholders held today, it has received the approval of its Class A common shareholders for the potential sale of a 100% interest in Yorbeau's Rouyn property upon the exercise of an option to purchase such interest granted by Yorbeau to IAMGOLD Corporation (\"IAMGOLD\"). \nA definitive option agreement granting such option was signed by Yorbeau and IAMGOLD on December 14, 2018, as previously announced in the Company's press release dated December 17, 2018.\nThe first cash payment from IAMGOLD to Yorbeau in the amount of $1,000,000 is expected to be made by December 21, 2018, as of which the option will become effective.\nAbout Yorbeau Resources Inc. \nThe 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. Two of the four deposits, Astoria and Augmitto, benefit from substantial underground infrastructure 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 in prospective areas of the Abitibi Belt of Quebec and Ontario that feature an infrastructure favourable for mining development. The newly acquired base metal properties include the Scott Project, which bears important mineral resources (see the press release dated March 30, 2017) and on which a positive Preliminary Economic Assessment was recently completed.\nFor additional information on the Company, consult its website at www.yorbeauresources.com. \nForward-looking statements: Except for statemen...