West High Yield Announces Private Placement
West High Yield Announces Private Placement
CALGARY, Alberta, Nov. 09, 2018 -- West High Yield (W.H.Y.) Resources Ltd. (" West High Yield" or the "Company")
(TSXV:WHY) announces that it proposes to complete a non-brokered private placement of Units ("Units”). Each Unit will
consist of one Common Share in the capital of the Company (a "Common Share ") and one-third of one Common Share
purchase Warrant (a "Warrant "). Each whole Warrant would entitle the holder to purchase one additional Common Share at
an exercise price of $0.50 for a period of one year from the date of issuance of the Warrant. There is no minimum subscription
for this offering and a maximum of 5,000,000 Units will be issued at a price of $0.30 per Unit for gross proceeds of up to
$1,500,000.
The Company may pay finder’s fees on all or a portion of the private placement to eligible persons seeking subscribers to the
financing, all in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the " Exchange").
The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the
Exchange. The Company confirms that, as of the date of this press release, there is no "material fact" or "material
change" (as those terms are defined under applicable securities laws) related to the Company which has not been generally
disclosed.
Assuming the maximum offering is completed, approximately $1,200,000 of the net proceeds are expected to be used for the
continuation of the environmental base line study, environmental assessment study and mine plan and permit application and
Industrial Mineral Mine Permit application for the Company's Record Ridge deposit near Rossland, British Columbia and the
balance of the net proceeds will be used for general corporate purposes. If the offering is not fully subscribed, the Company will
apply the proceeds to the above uses in priority and in such proportions as the board of directors and management of the
Company determine is in the best interests of the Company. Although the Company intends to use the proceeds of the
offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future
operations, events or opportunities. The Company also advised that it did not proceed with the private placement previously
announced on August 28, 2018.
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
President and Chief Executive Officer
West High Yield (W.H.Y.) Resources Ltd.
Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: [email protected]
Dwayne Vinck
Chief Financial Officer
West High Yield (W.H.Y.) Resources Ltd.
Telephone: (403) 257-2637
Facsimile: (403) 206-7159
Email: [email protected]
Reader Advisory
This press release contains forward-looking statements and forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will",
"project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or
statements. More particularly and without limitation, this press release contains forward looking statements and information
concerning the terms of the proposed non-brokered private placement of Units, the proposed use of proceeds and the
Company's business plans. The forward-looking statements and information are based on certain key expectations and
assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward
looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the
results to differ materially from those expressed in the forward-looking information include, but are not limited to: general
economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry
partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the
need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things,
skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors
should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof,
and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no
obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or
otherwise, except as required by applicable law.
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 press release.
Not for distribution in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to
buy any securities in the United States. The securities of the Company will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to,
or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the
U.S. Securities Act.