Yoho Announces Closing of Bought Deal Private Placement

CALGARY, ALBERTA–(Marketwired – June 16, 2015) –

Yoho Resources Inc. (“Yoho” or the “Company“) (TSX VENTURE:YO) is pleased to announce that it has closed its previously announced bought deal private placement (the “Private Placement“) with a syndicate led by Acumen Capital Finance Partners Limited including FirstEnergy Capital Corp. (collectively, the “Underwriters“). Pursuant to the Private Placement, Yoho has issued 950,000 common shares (“Common Shares“) of the Company at a price of $0.63 per Common Share, 7,562,300 Common Shares issued on a “flow-through” basis pursuant to the provisions of the Income Tax Act (Canada) in respect of Canadian development expenses (the “Flow-Through Shares“) at a price of $0.68 per Flow-Through Share and $11,835,000 aggregate principal amount of 8.25% convertible secured second lien debentures (the “Debentures“) at a price of $1,000 per Debenture. The Private Placement includes the issuance by Yoho of 150,000 Common Shares, 950,535 Flow-Through Shares and $1,835,000 aggregate principal amount of Debentures pursuant to the partial exercise of the option (the “Underwriters’ Option“) granted to the Underwriters, for aggregate gross proceeds of $17,575,864. The Underwriters were paid a cash commission of $636,145.24.

The Underwriters may exercise the remaining portion of the Underwriters’ Option, in whole or in part, for a period of 30 days from the date hereof, to purchase an additional combination of Common Shares, Flow-Through Shares and/or Debentures on the same terms and conditions as the Private Placement for additional aggregate gross proceeds of up to $2,374,136, being the full amount of the Underwriters’ Option less the amount exercised today.

Proceeds of the Private Placement will be used to initially reduce Yoho’s existing bank indebtedness and for general corporate purposes, with the gross proceeds from the sale of the Flow-Through Shares to be used to fund ongoing activities eligible for Canadian development expenses to be renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2015.

The securities issued pursuant to the Private Placement are subject to a four-month hold period from the date hereof, which expires on October 17, 2015.