Calgary, Alberta – September 17, 2008
Yoho Resources Inc. ("Yoho" or the "Corporation") announced today that the TSXV Venture Exchange ("TSXV") has accepted Yoho's Notice of Intention to make a Normal Course Issuer Bid (the "Bid") to purchase for cancellation, from time to time, as Yoho considers advisable, up to a maximum of 180,000 common shares (the "Common Shares"). The maximum number of Common Shares to be purchased pursuant to the Bid represents approximately 1.4% of the "public float" of the Common Shares outstanding on the date hereof, calculated in accordance with the rules of the TSXV (being approximately 12,805,909 Common Shares). Purchases of Common Shares will be made on the open market through the facilities of the TSXV. The price which Yoho will pay for any Common Shares purchased by it will be the prevailing market price of the Common Shares on the TSXV at the time of such purchase. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by Yoho. The Corporation has retained Peters & Co. Limited as its broker to conduct the Bid on behalf of the Corporation.
The Bid will commence on September 18, 2008 and will terminate on September 18, 2009 or such earlier time as the Bid is completed or terminated at the option of Yoho.
Management of Yoho believes that, from time to time, the market price of the Common Shares may not fully reflect the underlying value of the Common Shares and that at such times the purchase of Common Shares would be in the best interests of Yoho. Such purchases will increase the proportionate interest of, and may be advantageous to, all remaining shareholders. In addition, the purchases by Yoho may increase liquidity to shareholders wishing to sell their Common Shares.
Yoho has not made any purchases of Common Shares during the previous 12 months.
Yoho Resources Inc. is a Calgary based junior oil and natural gas company with operations focusing in the northwest Peace River Arch of Alberta and northeast British Columbia. The voting common shares of Yoho are listed on the TSXV under the symbol “YO”.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Yoho will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.
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.
Yoho Resources Inc. Announces Normal Course Issuer Bid for its Common Shares
Calgary, Alberta – September 17, 2008