An anonymous director reports

YANGAROO ANNOUNCES REJECTION OF VOLUNTARY MANAGEMENT CEASE TRADE ORDER, ANTICIPATED FFCTO AND CFO RESIGNATION

Yangaroo Inc. has provided an update to its news release issued on April 15, 2024, regarding the company's inability to file the company's audited annual financial statements, accompanying management discussion and analysis, and chief executive officer and chief financial officer certifications for the financial year ended Dec. 31, 2023, in accordance with applicable Canadian securities laws on or before April 29, 2024, filing deadline.

The Company previously announced its proactive submission of an application to the Ontario Securities Commission (the "OSC") to approve a voluntary temporary management cease trade order ("MCTO") under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"), which, if granted, would have prohibited trading in securities of the Company by the chief executive officer and chief financial officer of the Company until such time as the Annual Filings have been filed by the Company, and the MCTO lifted. The OSC rejected the Company's application for the MCTO due to the view that there is not an active, liquid market for the Company's securities based on a review of the trade volume, trade value, and number of trades over the last month. As such, the Company has been notified that the OSC will issue a failure-to-file cease trade order ("FFCTO") under Multilateral Instrument 11-103 - Failure-to-File Cease Trade Orders in Multiple Jurisdictions against the Company after the Filing Deadline.

The FFTCO will prohibit any trading, whether direct or indirect, of the Company's securities in each jurisdiction in Canada until the Company is able to complete the filing of the Annual Filings and successfully apply for a revocation of the FFCTO, noting that if the Annual Filings are made within 90 days of the date of the FFCTO, including any interim financial statements, management's discussion and analysis and certifications that subsequently became due (the "Subsequent Filings"), the filing of the Annual Filings (and Subsequent Filings if applicable) will constitute the application to revoke the FFCTO. There can be no assurance that the FFCTO will be revoked on the timeline contemplated by the Company.

The Company also announces that the Company's Chief Financial Officer, Frank Guo, has resigned from his position as Chief Financial Officer. Mr. Guo has elected to remain with the Company as a financial advisor in order to continue working closely with management and the auditors to complete the Annual Filings (and Subsequent Filings). The Company has appointed Grant Schuetrumpf, Chief Executive Officer of the Company, as Interim Chief Financial Officer during this period to oversee the completion and filing of the Annual Filings (and Subsequent Filings if applicable) while following steps are determined.

The Company intends to continue to work diligently and expeditiously with its auditors and expects to file the Annual Filings as soon as possible, anticipated to be by the end of May 2024 and in any event no later than June 28, 2024.

About YANGAROO:

Yangaroo is a software leader in media asset workflow and distribution solutions for the 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 industry's various video and audio workflow challenges.

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