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Press release from Marketwire

Yoho Resources Inc. Announces Non-Brokered Private Placement of Flow-Through Shares

Wednesday, September 05, 2012

Yoho Resources Inc. Announces Non-Brokered Private Placement of Flow-Through Shares09:00 EDT Wednesday, September 05, 2012CALGARY, ALBERTA--(Marketwire - Sept. 5, 2012) -NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESYoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) is pleased to announce that it intends to proceed with a non-brokered private placement (the "Private Placement") to, among others, certain directors and officers of the Company, of up to 3,864,735 common shares issued on a "flow-through" basis as Canadian development expenses pursuant to the provisions of the Income Tax Act (Canada) (the "Flow-Through Shares") at an issue price of $2.07 per Flow-Through Share for gross proceeds of approximately $8,000,000.Proceeds of the Private Placement will be used to fund the Company's development drilling targeting the Duvernay Formation at Kaybob, Alberta. These expenditures qualify as Canadian development expenses and will be renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2012. The Flow-Through Shares issued pursuant to the Private Placement will be subject to a four-month hold period from the closing date, which is anticipated to occur on or about September 14, 2012. The Private Placement is subject to approval from the TSX Venture Exchange.Yoho is a Calgary based junior oil and natural gas company with operations focusing in West Central Alberta and northeast British Columbia. The Common Shares are listed on the TSX Venture Exchange 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. ADVISORY:This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated participants in the Private Placement, the anticipated closing of the Private Placement and the anticipated use of the proceeds of the Private Placement. Although Yoho believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Yoho can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The closing of the Private Placement could be delayed if Yoho is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned. The Private Placement will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Private Placement will not be completed within the anticipated time or at all. The intended use of the proceeds of the Private Placement by Yoho might change if the board of directors of Yoho determines that it would be in the best interests of Yoho to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and Yoho undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.FOR FURTHER INFORMATION PLEASE CONTACT: Wendy S. WoolseyYoho Resources Inc.Vice President, Finance and CFO(403) 537-1771www.yohoresources.caNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.