Company to sell up to 6,666,667 shares at C$0.30 apiece in second deal
By Devika Patel
Knoxville, Tenn., May 30 - Yangaroo Inc. said it raised C$2.47 million in a private placement of stock. The deal was conducted by lead agent Global Maxfin Capital Inc. and priced on May 5. The company said it also plans a second brokered placement to raise between C$750,000 and C$2 million.
The company sold 8,236,669 common shares at C$0.30 per share in the first placement. The price per share is identical to the closing share price on May 2.
The company will sell between 2.5 million and 6,666,667 common shares at C$0.30 per share in the second placement. The price per share is a 6.25% discount to the C$0.32 closing share price on May 29.
Proceeds of the first placement will be used to retire the company's debt, in the form of debentures, for working capital and growth.
Proceeds of the second placement will be used for working capital and growth.
Toronto-based Yangaroo is a secure digital media distribution company.
| Issuer: | Yangaroo Inc.
|
| Issue: | Common shares
|
| Stock symbol: | TSX Venture: YOO
|
| Market capitalization: | C$12.23 million
|
|
|
| First placement
|
| Amount: | C$2,471,000
|
| Shares: | 8,236,669
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Global Maxfin Capital Inc. (lead)
|
| Pricing date: | May 5
|
| Settlement date: | May 30
|
| Stock price: | C$0.30 at close May 2
|
|
|
| Second placement
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| Amount: | C$750,000 (minimum), C$2 million (maximum)
|
| Shares: | 2.5 million (minimum), 6,666,667 (maximum)
|
| Price: | C$0.30
|
| Warrants: | No
|
| Pricing date: | May 30
|
| Stock price: | C$0.32 at close May 29
|
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