Calgary, Alberta – June 4, 2008 - Yoho Resources Inc. ("Yoho") is pleased to
announce that it has acquired approximately 92 percent of the issued and
outstanding common shares ("Vision Shares") of Vision 2000 Exploration Ltd.
("Vision") pursuant to its offer and take-over bid circular dated April 29, 2008.
The previously announced offer by Yoho to acquire Vision Shares for either: (i)
0.24 of a common share of Yoho, or (ii) $0.65 cash, or a combination thereof, for
each Vision Share tendered pursuant to the offer, subject to an aggregate cash
maximum of $3.0 million, expired at 7:00 p.m. Mountain Daylight Time on June 3,
Approximately 2,095,925 common shares of Yoho were issued and $66,755 in
cash was paid in consideration for the Vision Shares taken-up and paid for to date.
Yoho intends to acquire all of the remaining Vision Shares not deposited under the
offer pursuant to the compulsory acquisition procedures of the Business
Corporations Act (Alberta) and to delist the Vision Shares from the facilities of the
TSX Venture Exchange.
The production acquired from Vision is mainly in the Kaybob and Knappen areas
of Alberta and will add approximately 260 boe per day (86% gas, 14% liquids) to
Yoho’s production effective June, 2008. The acquisition will increase Yoho’s
reserves by 625.5 mboe of proven plus probable reserves (based on Vision’s
engineering report dated December 31, 2007). Vision’s undeveloped land of
21,000 net acres will increase Yoho’s total inventory of undeveloped land to
140,000 net acres.
Yoho's common shares trade on the TSX Venture Exchange under the symbol
“YO” and Vision's common shares trade on the TSX Venture Exchange under the
For more information please contact:
Wendy S. Woolsey
Vice President, Finance and CFO
Yoho Resources Inc.
Phone: (403) 537-1771
The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release.
Certain statements regarding Yoho Resources Inc. including management’s assessments of future plans and
operations, may constitute forward-looking statements under applicable securities laws and necessarily
involve known and unknown risks and uncertainties, most of which are beyond Yoho's control. These risks
may cause actual financial and operating results, performance, levels of activity and achievements to differ
materially from those expressed in, or implied by, such forward-looking statements.
Such factors include, but are not limited to: the impact of general economic conditions in Canada and the
United States; industry conditions including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are interpreted and enforced; competition; the
lack of availability of qualified personnel; fluctuations in commodity prices; the results of exploration and
development drilling and related activities; imprecision in reserve estimates; the production and growth
potential of Yoho's various assets; fluctuations in foreign exchange or interest rates; the ability to access
sufficient capital from internal and external sources; and obtaining required approvals of regulatory authorities.
Accordingly, Yoho gives no assurance nor makes any representations or warranty that the expectations
conveyed by the forward-looking statements will prove to be correct and actual results may differ materially
from those anticipated in the forward looking statements. Yoho undertakes no obligation to publicly update or
revise any forward-looking statements.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, securities in the
United States, or any province or territory of Canada, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. The securities offered will not be, and have not been, registered
under the United States Securities Act of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of that Act.