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Yangaroo Inc
Symbol C : YOO
Shares Issued 156,944,771
Close 2012-12-12 C$ 0.05
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Yangaroo closes $315,000 private placement

2012-12-13 14:55 ET - News Release

Mr. Gary Moss reports

YANGAROO CLOSES PRIVATE PLACEMENT

Yangaroo Inc.'s recently announced private placement has closed, raising aggregate gross proceeds of $315,000, of which $140,000 was invested by company insiders.

The private placement raised proceeds of $315,000, in respect of which 6.3 million units were subscribed for at a price of five cents per unit. Each unit consists of one common share and one warrant, entitling the holder to purchase one additional common share of Yangaroo at 10 cents and expiring on Dec. 13, 2015. All securities issued in connection with the private placement will be subject to a four-month hold period. The private placement is subject to final approval from the TSX Venture Exchange.

"We are very pleased with the level participation in this private placement, particularly from insiders," said Gary Moss, president and chief executive officer of Yangaroo. "Exceeding our initial financing estimate is, once again, a reflection of investor's belief in our technology, our employees and the business potential of Yangaroo."

Fraser Mackenzie Ltd. acted as the agent for the private placement and will receive, in consideration for its services, a cash commission equal to approximately $9,200 and will be issued 184,000 agent's warrants entitling the agent to purchase 184,000 common shares at an exercise price of 10 cents per share, for a period of two years from the closing date of the private placement.

We seek Safe Harbor.

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