Yoho Resources Inc.

Yoho Resources Inc.

March 21, 2014 11:24 ET

Yoho Announces Disposition of Common Shares of Storm Resources

CALGARY, ALBERTA--(Marketwired - March 21, 2014) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) announces that as a result of a plan of arrangement (the "Arrangement") completed pursuant to the provisions of the Business Corporations Act (Alberta) on March 20, 2014, Yoho and Yoho's direct and indirect wholly-owned subsidiary, Yoho Resources Partnership (the "Partnership"), have disposed of an aggregate of 13,629,442 common shares ("Storm Shares") in the capital of Storm Resources Ltd. ("Storm"). As such, as at the date hereof, neither Yoho nor the Partnership has any ownership or control of any Storm Shares. Pursuant to the Arrangement, each issued and outstanding common share in the capital of Yoho outstanding as at the close of business on March 20, 2014 was exchanged for one new common share in the capital of Yoho and 0.2591 of a Storm Share, which represented a Yoho shareholder's pro rata per share entitlement to an aggregate of 13,629,442 Storm Shares. Prior to the completion of the Arrangement Yoho (indirectly through the Partnership) owned an aggregate of 13,629,442 Storm Shares, representing approximately 12.4% of the outstanding Storm Shares, on a non-diluted basis. The 13,629,442 Storm Shares were initially acquired by Yoho as partial consideration for the sale by Yoho to Storm on January 31, 2014 of Yoho's Montney acreage in the Nig area of Northeast British Columbia.

An early warning report has been filed on SEDAR and will be available for review at www.sedar.com under Storm's profile. A copy of the early warning report can be obtained from the contact below.

Contact Information

  • Yoho Resources Inc.
    Wendy Woolsey
    Vice-President Finance & Chief Financial Officer
    (403) 537-1771 x102

    Yoho Resources Inc.
    500, 521-3 Avenue S.W.
    Calgary, Alberta T2P 3T3