Yoho Resources Closes Non-Brokered Private Placement Financing
Yoho Resources has closed its previously announced private placement of an aggregate of 850,000 common shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $2.70 per Flow-Through Share for aggregate gross proceeds of $2,295,000. A finder's fee of $14,040 was paid to an arm's length party for the sale of certain Flow-Through Shares. The securities issued pursuant to the Private Placement are subject to a hold period of 4 months and one day from closing of the Private Placement.
Proceeds of the Private Placement will be used to fund exploration and development activities on Yoho's oil and natural gas properties.