Yangaroo Closes CAD$500,000 Unsecured Convertible Debenture Financing and Amends Loan Agreement
Yangaroo Closes CAD$500,000 Unsecured Convertible Debenture Financing and Amends Loan Agreement
The terms of the Offering and Debentures are as disclosed in the press release issued on December 6, 2022. The Offering, including each term of the Debentures, received the conditional approval of the TSX Venture Exchange (the "Exchange") prior to closing but are subject to the final approval of the Exchange. Although the Debentures are non-transferable, in the event that the Debentures are converted prior April 13, 2022 (the "Hold Period"), the underlying common shares will be subject to the remainder of the Hold Period.Toronto, Ontario--(Newsfile Corp. - December 13, 2022) - YANGAROO Inc. (TSXV: YOO) (OTC Pink: YOOIF) ("Yangaroo", "Company"), a software leader in media asset workflow solutions for the advertising and entertainment industries, further to its press release on December 6, 2022, is pleased to announce the closing of its non-brokered, unsecured, convertible debentures (the "Debentures") for gross proceeds of CAD $500,000 (the "Offering").
安大略省多倫多-(Newsfile Corp.-2022年12月13日)-YANGAROO Inc.(TSXV：YOO)(場外粉色：YOOIF)(“楊加魯人", "公司)，廣告和娛樂行業媒體資產工作流程解決方案的軟件領導者，繼於2022年12月6日發佈新聞稿後，高興地宣佈結束其非經紀、無擔保、可轉換債券(債券“)總收益500,000加元(”供奉").
The Offering
供品
The Company completed the Offering to satisfy a condition of the National Bank of Canada ("NBC") that the Company complete a financing for gross proceeds of CAD $500,000 in order for NBC to provide an amendment to a loan agreement related to all credit facilities of the Company held with NBC (the "Loan Agreement").
該公司完成發售是為了滿足加拿大國民銀行的一項條件(“全國廣播公司“)本公司完成總收益500,000加元的融資，以便NBC對與本公司與NBC持有的所有信貸安排有關的貸款協議進行修訂(”貸款 協議").
The terms of the Offering and Debentures are as disclosed in the press release issued on December 6, 2022. The Offering, including each term of the Debentures, received the conditional approval of the TSX Venture Exchange (the "Exchange") prior to closing but are subject to the final approval of the Exchange. Although the Debentures are non-transferable, in the event that the Debentures are converted prior April 13, 2022 (the "Hold Period"), the underlying common shares will be subject to the remainder of the Hold Period.
發行和債券的條款在2022年12月6日發佈的新聞稿中披露。此次發行，包括債券的每個期限，已獲得多倫多證券交易所創業板(The TSX Venture Exchange)的有條件批准。交易所)，但須經聯交所最終批准。雖然債券不可轉讓，但如果債券於2022年4月13日之前轉換(保持 期間“)，相關普通股將受制於持有期的剩餘時間。
The NBC Loan Amendment
美國全國廣播公司貸款修正案
As previously disclosed, the Company was in breach of its financial covenants pursuant to the Loan Agreement. As the Company has satisfied the condition of completing the Offering, the Company and NBC have entered into an amending loan facility agreement (the "Amendment"), which amends certain terms, such as the termination of certain of the credit facilities, a six-month principal holiday period beginning on January 1, 2023 during which the Company is required to pay interest only on its term loan facility, an increase in the interest rate from National Bank Prime Rate plus 2.45% to National Bank Prime Rate plus 4.45% on its term loan facility, and the amendment of certain financial covenants and ratios and reporting requirements. As a result of the Amendment, the Company is now in good standing with respect to its obligations to NBC.
如先前所披露，本公司違反其根據貸款協議訂立的財務契諾。由於本公司已滿足完成發售的條件，本公司與NBC已訂立修訂貸款安排協議(“修正案“)，修訂某些條款，例如終止某些信貸安排、自2023年1月1日起為期六個月的本金休息期，在此期間本公司只須就其定期貸款安排支付利息，將國家銀行最優惠利率加2.45%加至國家銀行最優惠利率加4.45%的定期貸款安排的利率上調，以及修訂若干財務契約及比率和申報要求。由於修訂，本公司現時對NBC的責任狀況良好。
Subscribers to the Offering were required to execute a Subordination and Postponement Agreement in favour of NBC with respect to the Debentures until any and all amounts owing by Yangaroo to NBC are repaid and the Subordination and Postponement Agreements are terminated by NBC. During the term of the Subordination and Postponement Agreements, the Company may not make any principal payments to the holders of the Debentures in the form of cash. The Company will be permitted to pay interest on the Debentures in either cash or by way of issuance of common shares (at its discretion but subject to the policies and the approval of the Exchange in each instance) unless the Company is in default of the Amendment, in which event no such interest payments nor a conversion of the Debentures shall be permitted.
發售的認購人須就債券簽署以NBC為受益人的附屬及延遲協議，直至Yanaroo欠NBC的任何及所有款項均獲償還，而附屬及延遲協議亦由NBC終止。在從屬和延期協議期間，公司不得以現金形式向債券持有人支付任何本金。本公司將獲準以現金或以發行普通股的方式支付債券的利息(可酌情決定，但須視乎各項政策及交易所的批准而定)，除非本公司未能履行修訂，在此情況下，不得支付該等利息或轉換債券。
Insider Participation in Offering
內部人士參與要約發行
As certain directors of the Company participated in the Offering, the Offering is considered a "related party" transaction subject to and in accordance with Multilateral Instrument 61-101 ("MI 61-101"). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and (b) and 5.7(1)(a) and (b) of MI 61-101.
由於本公司若干董事參與是次發售，本次發售被視為一項“關聯方”交易，須受多邊文件61-101(“米其林61-101本公司依據MI 61-101第5.5(A)及(B)及5.7(1)(A)及(B)節所載豁免MI 61-101的估值及小股東批准的規定。
Neither the Company, nor to the knowledge of the Company after reasonable inquiry, a related party, has had knowledge of any material information concerning the Company or its securities that has not been generally disclosed.
本公司或據本公司經合理查詢後所知，關連人士並不知悉任何有關本公司或其證券的重大資料，而該等資料並未全面披露。
The Company did not file a material change report more than 21 days before the expected closing of the Offering because the details of the participation therein by related parties of the Company were not settled until shortly prior to the closing of the Offering and the Company wished to close on an expedited basis for business reasons.
本公司並無於預期發售結束前21天提交重大變動報告，原因是本公司關聯方參與的詳情直至發售結束前不久才敲定，而本公司因業務原因希望儘快完成發售。
Early Warning Disclosure
預警信息披露
Pursuant to the Offering, the Company issued 250 Debentures to Mr. H Shepard Boone, a director of the Company, directly and indirectly, for total consideration of $250,000.
根據是次發售，本公司直接及間接向本公司董事旗下H Shepard Boone先生發行250份債券，總代價為250,000美元。
Immediately prior to the completion of the Offering, Mr. Bonne had ownership and/or control of 10,351,679 common shares of the Company on an undiluted basis and 10,386,679 common shares of the Company on a partially diluted basis, representing 16.6% of the issued and outstanding shares of the Company on an undiluted basis and 16.7% on a partially diluted basis. Following the completion of the Offering, Mr. Boone continued to have ownership and/or control of 10,351,679 common shares of the Company, representing 16.6% of the issued and outstanding shares of the Company on an undiluted basis. Assuming the exercise of the Debentures, Mr. Boone would have ownership and/or control, directly or indirectly, of 12,921,679 common shares of the Company, representing 19.93% of the issued and outstanding shares of the Company on a partially diluted basis.
緊接發售完成前，Bonne先生在未稀釋基礎上擁有及/或控制本公司10,351,679股普通股，在部分稀釋基礎上擁有10,386,679股本公司普通股，佔未稀釋基礎上本公司已發行及流通股的16.6%，在部分稀釋基礎上擁有16.7%。發售完成後，布恩先生繼續擁有及/或控制本公司10,351,679股普通股，佔本公司已發行及已發行股份(未經稀釋)的16.6%。假設行使債權證，布恩先生將直接或間接擁有及/或控制本公司12,921,679股普通股，相當於本公司已發行及已發行股份的19.93%(按部分攤薄計算)。
Mr. Boone's acquisition of the Debentures was made for investment purposes and Mr. Boone intends to increase or decrease his holdings in the Company depending on market conditions and as circumstances warrant.
布恩先生收購債券是出於投資目的，布恩先生打算視市場情況及情況需要增持或減持本公司股份。
A report respecting this acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on the Company's profile at .
有關此次收購的報告將使用加拿大電子文件分析和檢索系統(SEDAR)向適用的證券委員會提交，並將在公司簡介中查閲，網址為。
None of the securities issued in connection with the Offering have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
與此次發行相關的所有證券均未或將根據修訂後的《1933年美國證券法》(下稱《1933年法案》)進行註冊，在未進行註冊或未獲得1933年法案註冊要求的適用豁免的情況下，不得在美國發行或出售這些證券。本新聞稿不應構成出售要約或徵求購買要約，也不應在任何這樣的要約、招攬或出售將是非法的任何州出售證券。
About YANGAROO
關於揚加羅
Yangaroo is a software leader in media asset workflow and distribution solutions for advertising, music, and awards industries. YANGAROO's patented Digital Media Distribution System is a leading secure business to business cloud-based solution that incorporates production services, traffic, clearance, delivery, analytics, and secure API integration for the industries various video and audio work-flow challenges.
Yanaroo是廣告、音樂和頒獎行業媒體資產工作流程和分發解決方案的軟件領導者。YANGAROO的專利數字媒體分發系統是一款領先的安全企業對企業雲解決方案，集成了生產服務、流量、清關、交付、分析和安全API集成，以應對行業中的各種視頻和音頻工作流挑戰。
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.
YANGAROO在多倫多、紐約和洛杉磯設有辦事處。YANGAROO在多倫多證券交易所創業板(TSX-V)的交易代碼為YOO，在美國的交易代碼為OTCBB：YOOIF。
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For YANGAROO Investor Inquiries:
Dom Kizek
Ph: (416) 534 0607 #162
dom.kizek@yangaroo.com
對於YANGAROO投資者諮詢：
多姆·基澤克
電話：(416)534 0607#162
郵箱：dom.kizek@yangaroo.com
Neither the TSX Venture Exchange nor Its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this release.
多倫多證券交易所創業板交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的準確性承擔責任。
Cautionary Note Regarding Forward-looking Statements
有關前瞻性陳述的注意事項
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.
本新聞稿包含適用於加拿大證券法的某些前瞻性陳述和前瞻性信息(在此統稱為“前瞻性陳述”)。除有關當前或歷史事實的陳述外，所有陳述均為前瞻性陳述。前瞻性陳述常常但不總是通過使用諸如“預期”、“實現”、“可能”、“相信”、“計劃”、“打算”、“目標”、“持續”、“持續”、“估計”、“展望”、“預期”、“可能”、“將”、“項目”、“應該”或類似的詞語，包括其否定，來確定未來的結果。
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. The Company is making forward-looking statements, including but not limited with respect to: the terms of the Offering and the Debentures, as well as the use of proceeds thereof; the hold period on the common shares underlying the Debentures; and all matters related to the Amendment. 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.
前瞻性陳述會受到已知和未知風險、不確定因素和其他因素的影響，其中許多風險、不確定性和其他因素不是揚加羅所能控制的，這些因素可能會導致揚加羅的實際結果、活動水平、業績或成就與此類前瞻性陳述中明示或暗示的內容大不相同。該公司作出前瞻性陳述，包括但不限於：發售和債券的條款及其收益的使用；債券相關普通股的持有期；以及與修訂相關的所有事項。儘管YANGAROO試圖確定可能導致實際結果與前瞻性陳述中包含的結果大不相同的重要因素，但可能還有其他因素導致結果與預期、估計或預期的結果不同。
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.
前瞻性陳述不是對未來業績的保證，涉及許多風險和不確定因素，本文對其中一些風險和不確定因素進行了描述。此類前瞻性表述必然涉及已知和未知的風險和不確定因素，這可能會導致揚加羅的實際業績和結果與此類前瞻性表述明示或暗示的對未來業績或結果的任何預測大不相同。任何前瞻性陳述都是自本新聞稿發佈之日起作出的，除非法律另有要求，否則揚加羅和揚加羅均不承擔公開更新或修改此類陳述以反映新信息的義務，無論是後續信息還是其他信息。
To view the source version of this press release, please visit
要查看本新聞稿的源版本，請訪問
譯文內容由第三人軟體翻譯。