WEST High Yield Announces Private Placement and Industrial Quarry Permit Application
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
NEWS RELEASE
For Immediate Release September 1, 2017
Calgary, Alberta TSXV Trading Symbol: WHY
WEST HIGH YIELD ANNOUNCES PRIVATE PLACEMENT AND INDUSTRIAL
QUARRY PERMIT APPLICATION
CALGARY, ALBERTA – September 1 , 201 7. West High Yield (W.H.Y.) Resources Ltd.
("West High Yield " or the "Company") announces that it is proposing to complete a non -
brokered private placement of up to $ 750,000 of units ("Units"). Each Unit shall be issued at a
price of $0.30 and shall 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 shall entitle the holder to purchase one additional Common Share at an exercise price of
$0.45 for a period of one year from the date of issu ance of the Warrant. The proposed private
placement is subject to receipt of all necessary regulatory approvals including the approval of the
TSX Venture Exchange.
The net proceeds of the private placement will be used for general corporate purposes and for the
continuation of the environmental base line study, environmental assessment study and mine plan
and permit application.
The Company also announces that it has commissioned work on an Industrial Quarry Permit
application for its Ivanhoe Ridge deposit near Rossland, British Columbia. The Industrial Quarry
Permit sought under the Mines Act (British Columbia) will allow for the extraction and sale of up
to 249,999 tonnes per annum of industrial rock . The Company is also in the process of
developing potential customers with processing facilities and the abi lity to process the industrial
rock. It is anticipated that industrial rock sales will provide cash flows from operations while
continued mine plan and permit application efforts are being made. The Industrial Quarry Permit
application process will be led by Greenwood Environmental of Vancouver , British Columbia
and SRK Consulting. The proposed rock quarry is not subject to the Environmental Assessment
Act (British Columbia ) or the Canadian Environmental Assessment Act . The Company will
engage with the BC Ministry of Energy Mines and Petroleum Resources on infor mation
requirements and timelines.
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 c oncerning
the terms of the proposed non -brokered private placement of Units, the proposed use of proceeds and the
anticipated sales of industrial rock . The forward-looking statements and information are based on certain
key expectations and assumptions ma de 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 a nd 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 fo rward-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 for ward-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 require d 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.