YANGAROO Announces Update on Private Placement

TORONTO, May 14, 2012 /CNW/ - YANGAROO Inc. (TSX-V: YOO) (OTC: YOOIF), the industry's leading secure digital media distribution company, is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (TSX-V) for the private placement previously announced on April 17, 2012.

YANGAROO is also pleased to announce that the first tranche of the committed funds has been delivered.  The balance of the committed funds are being processed currently and expected to be delivered in the coming days.  To accommodate this process time, YANGAROO has extended the private placement to close on or about May 28, 2012.

YANGAROO will post the required related documentation, including the amended debenture agreements, which are dependent on the closing of the private placement, upon its close.

About YANGAROO:
YANGAROO's patented Digital Media Distribution System (DMDS) is a leading secure B2B digital delivery solution for the music and advertising industries. DMDS replaces the physical distribution of audio and video content for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients with more accountable, effective, and far less costly digital delivery of broadcast quality media via the Internet. The DMDS Awards platform powers many of North America's major awards shows.

Named one of Canada's Top 100 Tech Companies by Canadian Business, YANGAROO has offices in Toronto, New York, Los Angeles, and Dallas. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF.

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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.

please contact Gary Moss at 416-534-0607 ext.111 or visit www.yangaroo.com.