Toronto, Ontario--(Newsfile Corp. - June 28, 2024) - YANGAROO Inc. (TSXV: YOO) (OTC Pink: YOOIF) ("Yangaroo", "Company"), a software leader in media asset workflow and distribution solutions, announces the receipt of a revocation order to the failure to file cease trade order (the "FFCTO") issued by the Ontario Securities Commission (the "OSC") on May 7th, 2024, as previously announced, and the voting results from the Company's Annual General Meeting of shareholders held on June 27th, 2024 (the "Meeting").
Cease Trade Order and Suspension of Trading
The Company has received a revocation order from the OSC regarding the lifting of the FFCTO effective June 27th, 2024. The Company is in the process of applying to the TSX Venture Exchange for reinstatement to trading of its common shares and will provide further updates as they become available.
Meeting
Shareholders voted in favour of all items of business put forth at the Meeting. Each of the resolutions are explained in detail in the Management Information Circular dated May 14, 2024, which is available on the Company's website and under the Company's profile on SEDAR+ at www.sedarplus.ca.
The three nominees as proposed by the Company were re-elected to the board of directors, being Mr. Grant Schuetrumpf, Mr. Philip Benson and Mr. H. Shepard Boone. Mr. Anthony Miller did not stand for re-election at this year's Meeting. The shareholders also approved a resolution appointing Baker Tilly WM LLP as auditors for the Company for the ensuing year.
Grant Schuetrumpf, Chief Executive Officer of the Company, commented: "We extend our deepest gratitude to Tony Miller for his 14 years of dedicated service on the board of Yangaroo. Since joining us in 2010, Tony has been an instrumental part of our growth and success.
Tony's extensive background in the media and advertising industry, including his tenure as Chairman Emeritus of MacLaren McCann, one of Canada's leading advertising and marketing communications firms, and Vice Chairman of their global parent, McCann Worldgroup in New York, brought invaluable insights to our team. With over 40 years of experience holding senior positions in advertising agencies across the United States and Canada, his strategic guidance and leadership have significantly contributed to Yangaroo's achievements.
Tony's influence extended beyond the corporate world; he is a former chairman of the Canadian Institute of Communication and Advertising, showcasing his commitment to advancing the industry as a whole. We are deeply appreciative of his dedication and wish him all the best in his future endeavors."
About YANGAROO
Yangaroo is a technology provider in the media and entertainment industry, offering a cloud-based software platform for the management and distribution of digital media content. Yangaroo's Digital Media Distribution System ("DMDS") platform is a patented cloud-based platform that provides customers with a centralised and fully integrated workflow directly connecting radio and television broadcasters, digital display networks, and video publishers for centralised digital asset management, delivery and promotion. DMDS is used across the advertising, music, and entertainment awards show markets.
YANGAROO Inc. is a publicly listed company incorporated on July 28, 1999 under the laws of Ontario as Musicrypt.com Inc. and changed to its present name on July 17, 2007. YANGAROO trades on the TSX Venture Exchange ("TSX-V") under the symbol YOO and in the U.S. under OTCPK: YOOIF.
The address of the Company's corporate office and principal place of business is 360 Dufferin Street, Suite 203, Toronto, Ontario, M6K 3G1.
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For YANGAROO Investor Inquiries:
Grant Schuetrumpf
Ph: (416) 534 0607
investors@yangaroo.com
Neither the TSX Venture Exchange nor Its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this release.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of YANGAROO, that may cause the actual results, level of activity, performance or achievements of YANGAROO to be materially different from those expressed or implied by such forward looking statements. The Company is making forward-looking statements with regarding to the reinstatement to trading of its common shares on the TSX Venture Exchange.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause YANGAROO's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither YANGAROO assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
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