Business
YANGAROO ANNOUNCES CLOSING OF DEBT FINANCING
Jun. 23, 2011 (Canada NewsWire Group) -- / NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SER...
About this update from Yangaroo Inc.
[{"type":"text","content":"\n\n\n Jun. 23, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nTORONTO, June 23, 2011 /CNW/ - YANGAROO Inc. (TSXV: YOO), (OTCBB: YOOIF) announces that it has completed its\n previously announced debt financing transaction valued at approximately\n $4.5 million.\n\n\nPursuant to the transaction, the Company has issued $2,500,000 principal\n amount of senior secured 18% non-convertible debentures (the "New Debentures").  In addition, with the prior requisite approval of the\n debentureholders, the Company has amended its previously issued\n $818,000 principal amount 12% convertible debentures maturing March 31,\n 2012 (the "March 2012 Debentures") and $1,125,000 principal amount convertible debentures maturing July\n 31, 2012 to reflect the terms of the New Debentures (the "July 2012 Debentures" and together with the March 2012 Debentures, the "Amended Debentures").  (Interest of $44,911 that had accrued on the March 2012 Debentures\n has been added to the principal amount of the amended March 2012\n Debentures.)\n\n\nFraser Mackenzie Limited acted as agent for this transaction.\n\n\nIn accordance with the rules of the TSX Venture Exchange, the Company\n also issued an aggregate of 13,521,504 "bonus" common shares to\n purchasers of the New Debentures and holders of the previously issued\n debentures.\n\n\nPursuant...