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YUKON ANNOUNCES TJOSVOLD RESIGNATION

 YUKON ANNOUNCES TJOSVOLD RESIGNATION
 ST. PAUL, Minn., March 13 /PRNewswire/ -- Yukon Energy Corporation


(NASDAQ: YUKN) today announced that David C. Tjosvold resigned as president, chief executive officer and as a director of the company in connection with the company's agreement with Tjosvold to satisfy his indebtedness to the company, pursuant to a promissory noted dated Dec. 31, 1987, in the original principal amount of $347,317 plus accrued interest.
 Under the terms of the agreement, Tjosvold tendered 750,000 shares of Yukon common stock to the company and granted a proxy on the remaining 1.65 million Yukon common shares owned by Tjosvold. The proxy transfers his common stock voting rights, with respect to the election and composition of the company's board of directors, to Yukon stockholders Robert H. Tucker, retired attorney and Robert H. Linsmayer, chairman of Villaume Industries and the company's current board of directors, comprised of LaVern E. Smith, Arvin T. Gearman and Leland G. Coe.
 Yukon Director Smith has been appointed acting chief executive officer.
 Yukon Energy Corporation develops, manufactures and markets a variety of energy-efficient residential and light commercial furnaces. These furnaces employ advanced heating technology and proprietary features to achieve total home comfort with substantial fuel savings. Products are sold to heating equipment wholesalers and private label manufactured for large marketing partners, as well as direct to the customers.
 The company's common stock is traded over-the-counter and quoted on NASDAQ under the symbol YUKN.
 -0- 3/13/92
 /CONTACT: LaVern E. Smith of Richard E. Lloyd, both of Yukon, 612-633-3115/
 (YUKN) CO: Yukon Energy Corporation ST: Minnesota IN: SU: PER


KH -- MN002 -- 7680 03/13/92 09:20 EST
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Publication:PR Newswire
Date:Mar 13, 1992
Words:275
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