Wednesday, 2 April 2014

YANGAROO Announces European Partnership Deal with Federation X Group


Today YANGAROO opened the door to Europe with its announcement on partnering up with  Swedish based Federation X Holdings.

Federation X, headquartered in Malmo, Sweden, and its affiliate Music2Be, based in the U.K. will  provide YANGAROO's industry leading digital delivery service to record labels, independent artists and promoters to deliver broadcast quality music audio and music video files to radio and television broadcasters and other destinations throughout the European Union, as well as Norway and Switzerland.

The terms of the deal were not disclosed; however, according to management, a “substantial advance payment was received and annual revenue targets are required in order for Federation X to retain the European rights over the initial three year term of the contract.” Management estimates that the European market, including Norway and Switzerland, should be comparable in size to the North American market.

To view today’s news release, please click here. 

Shares Outstanding:  ~ 40M
Shares Fully Diluted:  ~ 56M