Company is selling its common shares at C$0.30 per share in offering
By Devika Patel
Knoxville, Tenn., June 12 – Yangaroo Inc. said it raised C$1.22 million in the first tranche of a C$1.6 million private placement of stock. The deal priced for between C$750,000 and C$2 million on May 30 but the company has decided to decrease the offering.
The company is selling common shares at C$0.30 per share. The price per share is a 6.25% discount to the closing share price on May 29, C$0.32.
Yangaroo sold 4,053,334 shares in the initial tranche.
Proceeds will be used for working capital and growth.
Toronto-based Yangaroo is a secure digital media distribution company.
| Issuer: | Yangaroo Inc.
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| Issue: | Common shares
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| Amount: | C$1.6 million
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| Price: | C$0.30
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| Warrants: | No
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| Pricing date: | May 30
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| Amended: | June 12
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| Settlement date: | June 12 (for C$1,216,000)
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| Stock symbol: | TSX Venture: YOO
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| Stock price: | C$0.32 at close May 29
|
| Market capitalization: | C$12.83 million
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