MONTREAL, Oct. 24, 2024 (GLOBE NEWSWIRE) -- On October 23, 2024, Henri Gélinas, Chairman of the board of directors of Yorbeau Resources Inc. (“Yorbeau”) (TSX: YRB), acquired 1,200,000 class A common shares of Yorbeau (“Common Shares”).

Immediately prior to acquiring the 1,200,000 Common Shares, Mr. Gélinas had beneficial ownership of, or control or direction over, 45,424,115 Common Shares and 500,000 exercisable options to purchase Common Shares, which represented, in the aggregate, approximately 9.9% of the issued and outstanding Common Shares of Yorbeau on a partially diluted basis. The 1,200,000 acquired Common Shares were acquired through the facilities of the Toronto Stock Exchange at a price of C$0.045 per Common Share and an aggregate purchase price of C$54,000. Immediately following the acquisition of the 1,200,000 Common Shares, Mr. Gélinas had beneficial ownership of, or control or direction over, 46,624,115 Common Shares and 500,000 exercisable options to purchase Common Shares, representing, in the aggregate, approximately 10.2% of the issued and outstanding Common Shares of Yorbeau on a partially diluted basis.

Mr. Gélinas acquired the Common Shares for investment purposes and may from time to time acquire further Common Shares, or dispose of Common Shares, in each case subject to market, economic and other relevant conditions.

Yorbeau’s head office is located at 50 Place Crémazie, Suite 403, Montréal, Québec H2P 2T1, Canada. For inquiries or to obtain a copy of the related early warning report required under applicable Canadian securities legislation, a copy of which has also been filed on Yorbeau’s profile on SEDAR+ at www.sedarplus.ca, please contact: G. Bodnar Jr., President and Chief Financial Officer, at (514) 384-2202

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