47,571,228 Common Shares Issued West High Yield Releases Second Quarter 2013 Financial Results and Proposed Private Placement
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
NEWS RELEASE For Immediate Release August 9, 2013 Calgary, Alberta TSXV Trading Symbol: WHY 47,571,228 Common Shares Issued
WEST HIGH YIELD RELEASES SECOND QUARTER 2013 FINANCIAL RESULTS AND PROPOSED PRIVATE PLACEMENT
CALGARY, ALBERTA – August 9, 2013. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces the release of its financial results and Management Discussion and Analysis (“MD&A”) for the six months ended June 30, 2013. The unaudited interim condensed financial statements and related MD&A for the six months ended June 30, 2013 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
The Company also announces a proposed non-brokered private placement of up to $720,000 through the sale of up to 1,600,000 Units (the “Units”) at a price of $0.45 per Unit. Each Unit will consist of one (1) Common Share (“Common Share”) in the capital of the Company and one (1) Common Share Purchase Warrant (“Warrant”). Ten full Warrants will entitle the holder to purchase one (1) Common Share of the Company at an exercise price of $0.60 for a period of one year the from the date of issue (the “Warrant Term”). The Company may pay finder’s fees to qualified arm’s length third parties. The private placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. The private placement is expected to close on or before September 19, 2013. The proceeds of the private placement will be used for general corporate purposes and working capital.
About West High Yield
West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.
For further information please contact:
Frank Marasco Dwayne Vinck President and Chief Executive Officer Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Facsimile: (403) 206-7159 Email: [email protected] Email: [email protected]
Reader Advisory Neither the 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.