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VNN Vision 2000 Exploration Com Npv

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Share Name Share Symbol Market Type
Vision 2000 Exploration Com Npv TSXV:VNN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Vision 2000 Exploration Ltd. Announces Entering Into a Transaction Agreement With Yoho Resources Inc.

02/04/2008 1:30pm

Marketwired Canada


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


Vision 2000 Exploration Ltd. ("Vision") (TSX VENTURE:VNN) is pleased to announce
that it has entered into a transaction agreement with Yoho Resources Inc.
("Yoho") (TSX VENTURE:YO) pursuant to which Yoho has agreed to make an offer to
purchase all of the issued and outstanding common shares of Vision pursuant to a
take-over bid. The transaction agreement provides that Yoho will offer all
Vision shareholders $0.65 in cash or 0.24 common shares of Yoho per common share
of Vision, subject to maximum aggregate cash consideration of $3,000,000 (the
"Offer"). The closing price of Yoho common shares as at April 1, 2008 on the TSX
Venture Exchange was $2.70.


Major Terms and Conditions

The Offer is conditional upon Yoho acquiring at least 66 2/3% of the outstanding
Vision common shares calculated on a fully diluted basis and is subject to other
customary conditions.


The transaction agreement provides that each of Vision and Yoho will pay a break
fee in certain circumstances if the proposed transaction is not completed.
Vision has agreed not to solicit further offers or initiate discussions or
negotiations with any third party concerning the sale of Vision, subject to the
fiduciary obligation to respond to superior proposals, which Yoho has the right
to match.


In connection with the Offer, all directors and officers of Vision, representing
approximately 39% of the issued and outstanding common shares have entered into
support agreements with Yoho pursuant to which they have agreed to tender all of
their common shares to the Offer.


Other Terms and Conditions

The transaction is subject to Canadian regulatory approvals and other customary
closing conditions. Full details of the Offer will be included in a formal
take-over bid circular and other related documents, which are expected to be
mailed to Vision shareholders no later than April 30, 2008. The Offer, unless
extended, will expire 35 days from the commencement of the Offer. Completion of
the transaction is expected to occur in June 2008. Once mailed, the take-over
bid circular and directors' circular will be available on the SEDAR website at
www.sedar.com.


Fairness Opinion

Peters & Co. Limited is acting as financial advisor to Vision with respect to
the transaction and has advised the board of directors of Vision that the
consideration to be received under the Offer is fair, from a financial point of
view, to Vision shareholders.


Vision Board Recommendation

The Offer has been unanimously approved by the board of directors of Vision at
the meeting called to consider the proposed transaction and the board of
directors has concluded that the transaction is in the best interests of the
Vision shareholders and will recommend that Vision shareholders accept the
Offer.


Vision

Vision is engaged in oil and natural gas exploration, primarily in the Kaybob
and Knappen areas of Alberta.


Yoho

Yoho is a Calgary based junior oil and natural gas company with operations
focusing in the northwest Peace River Arch of Alberta and northeast British
Columbia.


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.


1 Year Vision 2000 Exploration Com Npv Chart

1 Year Vision 2000 Exploration Com Npv Chart

1 Month Vision 2000 Exploration Com Npv Chart

1 Month Vision 2000 Exploration Com Npv Chart

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