Yorbeau Resources Inc (TSE:YRB) has released an update.
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Yorbeau Resources Inc. has entered into a definitive asset purchase agreement to sell its Rouyn property to a subsidiary of Lac Gold Pty Ltd for C$25 million plus a 2% net smelter royalty. The deal outlines staggered payments with an upfront sum followed by installments over four years, secured by a hypothec on the property. The proceeds from this transaction will be invested in further exploration and development of Yorbeau’s remaining assets.
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