Company sells up to 10 million common shares at C$0.30 apiece in deal
By Devika Patel
Knoxville, Tenn., May 5 - Yangaroo Inc. said it will raise between C$1.5 million and C$3 million in a private placement of stock. The deal will be conducted by lead agent Global Maxfin Capital Inc.
The company will sell between 5 million and 10 million common shares at C$0.30 per share. The price per share is identical to the closing share price on May 2.
Settlement of the final tranche is expected May 23.
Proceeds will be used to retire the company's debt, in the form of debentures, for working capital and growth.
Toronto-based Yangaroo is a secure digital media distribution company.
| Issuer: | Yangaroo Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million (minimum), C$3 million (maximum)
|
| Shares: | 5 million (minimum), 10 million (maximum)
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Global Maxfin Capital Inc. (lead)
|
| Pricing date: | May 5
|
| Settlement date: | May 23
|
| Stock symbol: | TSX Venture: YOO
|
| Stock price: | C$0.30 at close May 2
|
| Market capitalization: | C$11.22 million
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