Yroo Inc. completes rights offering by way of private placement

05 June 2020

On June 5, 2020, Yroo Inc. successfully completed a rights offering by way of private placement for total proceeds of US$1.4 million. In addition, as part of its recapitalization, Yroo was able to successfully restructure a significant amount of its secured and unsecured debt to give it a solid financial foundation on which to carry out its business plan for the foreseeable future.

Shopbrain, from meta-search engine and big data company Yroo, is a virtual shopping assistant powered by artificial intelligence to find online shoppers the best price in real-time. Through AI, Shopbrain searches thousands of retailers, merchants and search engines, including Amazon, Best Buy, Home Depot, Walmart, eBay, Google Shopping and catalogues over 1 billion products. The shopping assistant offers both B2C and B2B solutions saving consumer time and money while improving business revenue while protecting their margins.

Gowling WLG advised Yroo with respect to these matters with a team that included Thomas Hunter, Marcus Hinkley and Angelica Wilamowicz.

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