Yoho Resources Inc.

TSX VENTURE: YO

Mar 02, 2010 08:38 ET

CALGARY, ALBERTA–(Marketwire – March 2, 2010) –

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Yoho Resources Inc. (“Yoho” or the “Company“) (TSX VENTURE:YO) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Paradigm Capital Inc. and including Peters & Co. Limited, Acumen Capital Finance Partners Limited, Cormark Securities Inc. and Mackie Research Capital Corporation (collectively, the “Underwriters“) pursuant to which the Underwriters have agreed to purchase on a bought deal basis for resale 2,500,000 common shares of the Company (the “Common Shares“) at an issue price of $2.70 per Common Share and to place on a bought deal basis 1,500,000 Common Shares to be issued on a “flow through” basis pursuant to the provisions of the Income Tax Act (Canada) (the “Flow-Through Shares“) at an issue price of $3.25 per Flow-Through Share for aggregate gross proceeds to Yoho of $11,625,000 (the “Offering“). Yoho has also granted the Underwriters an option, exercisable in whole or in part, for a period commencing on the closing of the Offering and ending 30 days following the closing date, to purchase up to an additional 375,000 Common Shares to cover over-allotments, if any, at a price of $2.70 per Common Share for additional gross proceeds of $1,012,500.

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For more information, please contact

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

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