Dec 06, 2005
Yale Closes Private Placement - 848,000 Units at $0.22
News Release #05-25
Yale Resources Ltd. has closed on a previously announced (news in Stockwatch dated Nov. 18, 2005) non-brokered private placement for 848,000 units at 22 cents per unit. Each unit consists of one common share and one-half share purchase warrant. Two half warrants are convertible into one common share at an exercise price of 27 cents for a period of one year. The shares forming part of the units and the shares acquired on exercise of the warrants are subject to restrictions on resale until March 30, 2006. The proceeds of $186,560 will be applied to continuing exploration in Namibia and for general working capital purposes. The company paid a finder's fee in cash of $825.00 and issued an agent's share purchase warrant for 5,000 warrants to purchase 5,000 shares exercisable at a price of 22 cents for a period of one year.
We seek Safe Harbor.
On behalf of the Board,
Ian Foreman, P.Geo. President
For further information, please contact
Ian Foreman, P. Geo, President
Yale Resources Ltd.
Olav Svela, Vice President
CHF Investor Relations
t. 416.868.1079 x. 242
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
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