YANGAROO Clarifies EZ Downloads Announcement

Rhea-AI Summary

YANGAROO Inc. (TSX-V: YOO, OTCBB: YOOIF) has issued a clarification regarding its recent announcement about the launch of EZ Downloads, a platform for secure watermarked cloud-based downloads. The company retracted its previous claim that it was the sole provider offering such downloads without requiring proprietary software. This statement aimed to solidify YANGAROO's position in media distribution, which features a patented Digital Media Distribution System, enhancing workflow solutions in advertising, music, and awards sectors.

Positive

• YANGAROO has a patented Digital Media Distribution System, enhancing workflow management solutions.
• The company's offices in major markets: Toronto, New York, and Los Angeles, indicate a strong operational presence.

Negative

• The retraction of the claim about being the only provider of proprietary-free downloads may weaken confidence in YANGAROO's market position.
• The existence of competing platforms offering similar services suggests increased market competition.

TORONTO, Oct. 05, 2020 (GLOBE NEWSWIRE) -- YANGAROO Inc. (“Yangaroo”, “Company”), (TSX-V: YOO, OTCBB: YOOIF), the software leader in workflow management and media distribution solutions, today announced a clarification on a prior announcement, “Yangaroo announced the launch of EZ Downloads, software free secure watermarked cloud based downloads”, dated September 25^th, 2020.

The Company would like to clarify that there are other platforms offering proprietary and software-free watermarked downloads. The Company retracts the following statement: "…making Yangaroo Music and DMDS the only trusted provider of new music not to require the installation of proprietary software to facilitate secure, watermarked downloads".

About YANGAROO

Yangaroo is a software leader in work-flow management 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 provides clearance, delivery, and secure API integration for various work-flow challenges in media distribution.

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:
Gary Moss
Phone: (416) 534-0607 x 111
gary.moss@yangaroo.com

FAQ

What did YANGAROO clarify in their Oct 5, 2020 press release?

YANGAROO clarified that it is not the only provider of software-free watermarked downloads and retracted a previous statement regarding this.

How does YANGAROO's Digital Media Distribution System benefit users?

YANGAROO's Digital Media Distribution System provides secure, cloud-based solutions for media distribution, enhancing workflow management for advertising and music industries.

What is YANGAROO's stock symbol?

YANGAROO trades under the symbol YOO on the TSX Venture Exchange and YOOIF on the OTCBB.