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YUKON ANNOUNCES ANNUAL MEETING RESULTS AND PREFERRED STOCK OFFERING

YUKON ANNOUNCES ANNUAL MEETING RESULTS AND PREFERRED STOCK OFFERING
 ROSEVILLE, Minn., July 8 /PRNewswire/ -- Yukon Energy Corporation (NASDAQ: YUKN) today announced that its shareholders elected Leroy A. Walkner and re-elected Arvin T. Gearman, Robert M. Linsmayer and Leland G. Coe to the company's board of directors at its annual meeting on July 2, 1992. Walkner has been Yukon's president and chief executive officer since May 14, 1992. The annual meeting was held at 2299 Territorial Road in St. Paul, Minn., the company's new 87,500 sq. ft. manufacturing facility.
 The company also announced that its shareholders approved an amendment to the company's articles of incorporation to increase the number of authorized common shares from 8,000,000 to 15,000,000 and ratified Yukon's acquisition of L.A.W. Machining and Manufacturing, Inc. L.A.W. has been the sole manufacturer of Yukon furnaces and manufactured replacement parts since August, 1991.
 Additionally, the company announced that it is seeking to privately place up to $600,000 of 12 percent Convertible Preferred Stock. The Preferred Stock is convertible into the company's common stock at an equivalent price of $.25 per common share. Proceeds from the preferred stock offering will be used to retire existing debt and vendor obligations and for working capital purposes.
 Yukon Energy Corporation develops, manufactures and markets a variety of energy-efficient residential and light commercial furnaces. These furnaces employ advanced hearing technology and proprietary features to achieve total home comfort with substantial fuel savings. The furnaces are sold nationally through heating equipment distributors and contractors. As a result of its recent merger with L.A.W., the company also serves as a manufacturing subcontractor for a variety of corporate customers. Yukon Energy Corporation's common stock trades on the NASDAQ over-the-counter market under the symbol "YUKN."
 -0- 7/8/92
 /CONTACT: Leroy Walkner or Richard E. Lloyd, 612-633-3115, both of Yukon Energy/
 (YUKN) CO: Yukon Energy Corporation ST: Minnesota IN: SU: OFR


AL -- MN008 -- 7363 07/08/92 10:57 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
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