Pursuant to the Qualifying Transaction, the Corporation completed a private placement of common shares (the "Yangaroo Shares") in the capital of Yangaroo at a price of
The Qualifying Transaction remains subject to the Corporation filing final documentation with the Exchange.
The approval of a majority of the minority of the Corporation shareholders for the Qualifying Transaction was obtained at the special meeting of shareholders of the Corporation held on
The Corporation will distribute all of the securities underlying the Yangaroo Shares to the shareholders of the Corporation of record as of
The common shares of the Corporation were halted from trading by Investment Industry Regulatory Organization of
Additional details regarding the Qualifying Transaction, return of capital to the shareholders and the dissolution are available in the management information circular of the Corporation dated
ABOUT YANGAROO INC.
Yangaroo is a technology company that is the provider of user friendly and secure business to business distribution of media via the internet. Yangaroo's patented Digital Media Distribution System ("DMDS") is a secure B2B distribution of media via the internet.
Yangaroo's strategy is to use its technology to supplant traditional means of delivering content on physical media (such as copying to CD, DVD or tapes and delivering via courier) by leveraging the now widely available infrastructure of the internet and evermore powerful desktop computers to enable faster, more secure, less expensive, and environmentally friendly digital content delivery.
Yangaroo provides a digital media management solution for the entertainment and advertising industries. DMDS is an end to end technology solution that provides a fully integrated work flow based digital distribution and data management solution. DMDS provides audio and video content for music, music videos, and advertising to television, radio, media, retailers, award shows and other authorized recipient with more accountable, effective, and far less costly digital distribution of broadcast quality media via the internet.
Further information about Yangaroo can be found online at www.sedar.com and at www.yangaroo.com.
The Exchange has in no way passed upon the merits of the proposed transaction and neither the Exchange nor the its Regulation Services Provider (as that term is defined in the policies of the Exchange) has approved nor disapproved the contents of this press release or accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in filings by the Corporation with the Canadian securities regulators, which filings are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Killbear Acquisition Corp. Richard McGrawChief Executive Officer 416-944-2700 email@example.com Source: Killbear Acquisition Corp.