Yoho Resources Inc.

Yoho Resources Inc.

October 15, 2008 18:30 ET

Yoho Resources Inc. Announces Amendment to Normal Course Issuer Bid for Its Common Shares

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2008) -


Yoho Resources Inc. ("Yoho" or the "Corporation") (TSX VENTURE:YO) announced today that it has amended the terms of its normal course issuer bid (the "Amended Bid") in order to increase the maximum number of common shares ("Common Shares") that may be purchased pursuant to the Amended Bid by 420,000 Common Shares.

The Amended Bid provides that Yoho may, during the twelve-month period which commenced on September 18, 2008, and will terminate on September 18, 2009, purchase on the TSXV up to 600,000 Common Shares, being approximately 4.7% of the "public float" as at September 3, 2008.

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. To date, Yoho has purchased for cancellation 178,800 Common Shares under the original bid at an average price of $1.79 per Common Share.

The Amended Bid will terminate on September 18, 2009 or such earlier time as the Amended 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 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.


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.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Yoho Resources Inc.
    Wendy S. Woolsey
    Vice President, Finance and CFO
    (403) 537-1771
    Website: www.yohoresources.ca