Toronto, Canada
New Brand Reflects Evolution of Company and Global Expansion into New Verticals
Musicrypt Inc. (TSX-V: MCT, OTC: MCYPF), the leader in secure digital media distribution, is pleased to announce that it is embracing a new corporate identity. The new name, YANGAROO Inc., reflects the company’s vision of being the global standard in secure B2B digital media delivery.
The company engaged Addison Whitney, a North Carolina based firm that specializes in corporate identity consulting, to assist with the re-naming process. Their clients include technology leaders such as Microsoft, Adaptec, General Electric, 3Com, IBM, HP, OnStar and Toshiba, among many others.
After extensive collaborative work, which drew on Addison Whitney’s experience and their objective assessment of the company’s needs and attributes, the executive team agreed to change the name of the company to Yangaroo Inc., which was overwhelmingly approved by the company’s shareholders at the Annual and Special Shareholders Meeting held on June 25, 2007 in Toronto.
The name change was approved by the TSX Venture Exchange July 16, 2007. YANGAROO Inc. will trade on the TSX Venture Exchange under the symbol YOO (TSX-V: YOO) commencing with the opening of trading on Wednesday July 18, 2007.
“Our new brand is the result of increasing demand for our solutions in many areas beyond the music industry. We recently announced the launch of our DMDS radio spot delivery service with The Gary Group and Universal Music Group in Los Angeles,” said John Heaven, President and CEO of YANGAROO Inc. “This exciting new name will help us communicate with the many new markets for our products.”
YANGAROO’s patented Digital Media Distribution System (DMDS) provides a perfect vehicle for the delivery of all files, large or small, audio or video. Working to create a more efficient digital distribution model for the ad sector, the company will build on the success it has enjoyed in the music sector. Features include transparent and fully portable biometric user authentication and the ability to securely access media from any computer anywhere in the world without subscription based hardware or satellite fees. Further benefits of DMDS include broadcast quality files, accountability and real-time online reporting.
YANGAROO will continue to lead, and is powering the changes occurring in the digital music industry with its patented DMDS technology. YANGAROO is partnered in the U.S. with Billboard, R&R and Nielsen BDS; in the UK, Europe and Australia with Adstream Ltd; and is marketed to the U.S. advertising industry by AWE, a division of Omnicom, and The Gary Group. DMDS is the only digital delivery system that can deliver music throughout the U.S., Canada and the UK.
In further news, the board of directors has granted 100,000 options with an exercise price of $0.27 and expiry date of June 25, 2012 to an executive and a board member. 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 grant.
About YANGAROO Inc.:
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 trades on the TSX Venture Exchange (TSX-V) under the symbol YOO. For more information on YANGAROO, please contact John Heaven at 905-763-3553 or visit www.yangaroo.com.
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.