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YUKON ENERGY ANNOUNCES COMPLETED MERGER AGREEMENT AND ANNUAL SHAREHOLDERS MEETING

 YUKON ENERGY ANNOUNCES COMPLETED MERGER AGREEMENT
 AND ANNUAL SHAREHOLDERS MEETING
 ROSEVILLE, Minn., June 26 /PRNewswire/ -- Yukon Energy Corporation today announced that it has completed its merger agreement with L.A.W. Machining and Manufacturing, Inc., a privately held, Twin Cities-based manufacturing concern. The terms will be submitted for shareholder approval at its annual shareholder meeting on July 2, 1992 at 2:00 p.m.
 As part of the terms of the merger, Yukon will issue 450,000 shares of its stock to the shareholders of L.A.W., plus an option to purchase an additional 550,000 shares of Yukon stock for a five year period at 40 cents per share. In addition, Yukon will pay a total of $100,000 cash to L.A.W. shareholders over several months.
 Leroy A. Walkner, founder and president of L.A.W., was named president and chief executive officer of Yukon on May 15, 1992. "The Yukon management and board of directors are enthusiastic about the excellent manufacturing capability that Leroy Walkner and L.A.W. bring to Yukon," said Leland Coe and Bob Linsmayer, Yukon board members who played an active role in negotiating the merger. "Walkner's background in manufacturing and general business procedures will provide the expertise needed to get Yukon in a position to deliver more high quality products to the marketplace profitably."
 Walkner's first responsibility will be to centralize manufacturing of Yukon's full line of heating products at their new facility.
 Yukon Energy Corporation develops, manufactures and markets a variety of energy-efficient residential and light commercial furnaces. The company's line of furnaces are the best in the market and exceed the U.S. Department of Energy's 1992 Requirements for furnace efficiency. The furnaces are sold nationally through heating equipment wholesalers and retailers. Yukon's stock trades on the NASDAQ over-the-counter market under the symbol "YUKN".
 /CONTACT: Melissa Quinn of Padilla Speer Beardsley, 612-871-8877, for Yukon Energy; or Kent Knudson of Yukon Energy, 612-633-3115/
 (YUKN) CO: Yukon Energy Corporation ST: Minnesota IN: OIL SU: TNM


AL -- MN002 -- 4123 06/26/92 09:59 EDT
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Publication:PR Newswire
Date:Jun 26, 1992
Words:344
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