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
"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
We seek Safe Harbor.
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