(via Thenewswire.ca)
TORONTO, CANADA - YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media management company (the "Company"), wishes to announce that it has received TSX-Venture Exchange (the "Exchange") approval to issue the Bonus Warrants (as defined in a news release dated October 1, 2013 [the "Oct 1 Release"]). As a result of certain regulatory requirements, the Company will be issuing a portion of those Bonus Warrants, originally anticipated to be issued under Exchange Policy 5.1 ("Policy 5.1"), instead under the Shares for Debt Transaction (as defined in the Oct 1 Release). In line with the Company's original offer, each debenture holder whose debentures have been amended will receive a one-half of one warrant for every $1.00 of indebtedness, each whole warrant being exercisable for a period of thirty-six (36) months from the date of issuance at a price equal to $0.25. As such, a total of 2,026,221 warrants will be issued, pro rata, under the Shares for Debt Transaction, to those debenture holders whose debentures were both amended and converted, the balance, being 359,430, being issued under Policy 5.1 to those debenture holders who did not participate or were unable to receive warrants under the Shares for Debt Transaction. There has been no change in the aggregate number of warrants being issued to debenture holders as contemplated in the Oct 1 Release.
About YANGAROO:
YANGAROO is a company dedicated to digital media management. YANGAROO's patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is now the industry standard and powers most of North America's major awards shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF. For further information, please contact Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.
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The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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