TORONTO, Dec. 5 /CNW/ - YANGAROO Inc., (TSX-V: YOO, OTCBB: YOOIF), the industry's leading secure digital media distribution company, announced that its board of directors has granted five directors and officers a total of 310,000 options with an exercise price of $0.07 and expiry date of November 19, 2013. The board of directors has adopted a policy of setting option exercise prices at the greater of the three month weighted average trading price and the closing price on the day before the grant. These options are subject to the usual vesting period as required by the TSX Venture Exchange.
About YANGAROO:
YANGAROO's patented Digital Media Distribution System (DMDS) is a leading secure B2B digital delivery solution for the music and advertising industries. DMDS is a web-based delivery system that pioneers secure digital file distribution by incorporating biometrics, high-value encryption and watermarking. DMDS replaces the physical distribution of musical recordings and advertising to radio, media, retailers, and other authorized recipients with more accountable, effective, and far less costly digital delivery of broadcast quality media via the Internet.
YANGAROO's DMDS has made over six million deliveries of over 12,000 songs from more than 600 record labels to destinations which include radio stations representing over 35 U.S. broadcast chains. U.S. record labels delivered 1.3 million songs via DMDS in the U.S. in the first nine months of 2008. DMDS is the only system that can digitally deliver music across the U.S., Canada, and the UK.
YANGAROO has offices in Toronto, New York, Los Angeles, and London, UK. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB:YOOIF.
The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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