TORONTO, CANADA – April 26, 2018 - YANGAROO Inc. (the “Company”) (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media management and distribution company, announces the resignation of Howard Atkinson from the Company's Board of Directors, effective April 25, 2018 in order to focus his efforts on other business and board commitments.
“Howard has served on the Board of YANGAROO for 9 years, and his contributions during his tenure have helped the Company through challenging times to its current growth and profitability,” said Tony Miller, Chairman of YANGAROO. “On behalf of the Board and management, we thank Howard for his contribution and wish him all the best in his future endeavours.”
“It has been very rewarding serving on the Board for the past 9 years,” said Mr. Atkinson. “Although I am leaving to accommodate other commitments, the timing is right as I feel confident that the Company is well on its way to sustained growth and profitability.”
The Board will not fill the vacancy at this time.
The Company would also like to announce the appointment of Gerry Hurlow as Chair of the Company’s Audit Committee, effective as of April 25, 2018, replacing Howard Atkinson.
Mr. Hurlow, who is also President of Meteor Capital Inc., a company that invests in emerging Canadian technology businesses, brings over 20 years of experience investing in early stage companies and has extensive board experience with publicly traded companies in Canada. Mr. Hurlow is currently a member of the Board of Directors and Audit Committee.
Mr. Philip Benson, a member of the Board of Directors, has also been appointed to the Audit Committee effective April 25, 2018.
YANGAROO is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is now the industry standard and powers most of North America’s major awards shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF.
For YANGAROO Investor Inquiries:
Phone: (416) 534-0607
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Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of YANGAROO, that may cause the actual results, level of activity, performance or achievements of YANGAROO to be materially different from those expressed or implied by such forward looking statements, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of the technology industry. Although YANGAROO has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause YANGAROO’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither YANGAROO assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.