Yoho Resources Inc.
TSX VENTURE : YO

Yoho Resources Inc.

April 29, 2008 18:37 ET

Yoho Resources Inc. Announces Mailing of Offer to Purchase to Shareholders of Vision Exploration 2000 Ltd.

CALGARY, ALBERTA--(Marketwire - April 29, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Yoho Resources Inc. ("Yoho") (TSX VENTURE:YO) announces that it has mailed its offer to purchase (the "Offer") and take-over bid circular to holders of common shares of Vision 2000 Exploration Ltd. ("Vision") in connection with Yoho's previously announced offer to acquire all of the issued and outstanding shares of Vision. Under the terms of the Offer, shareholders of Vision may elect to receive either: (i) 0.24 of a common share of Yoho, or (ii) $0.65 cash, for each Vision share tendered pursuant to the Offer, subject to an aggregate cash maximum of $3.0 million. Included with the Offer is the Vision Directors' Circular recommending Vision shareholders accept the Offer and tender their Vision shares to the Offer prior to the expiry time.

The Offer will expire at 7:00 p.m. (Calgary time) on June 3, 2008 unless it is withdrawn or extended. The Offer is subject to certain conditions, including the deposit of not less than 66 2/3% of the outstanding common shares of Vision and other customary conditions.

Vision shareholders whose shares are registered in the name of a broker or nominee should contact their broker, investment dealer, bank, trust company or other nominee for assistance in depositing their shares of Vision to the Offer.

The Depositary for the Offer is Valiant Trust Company. Any questions and requests for assistance may be directed by Vision shareholders to the Depositary at 1-866-313-1872 or by e-mail to inquiries@valianttrust.com.

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 symbol "VNN".

CAUTIONARY STATEMENTS

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.

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