WEST High Yield Announces Private Placement and Release of Third Quarter 2017 Financial Results
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
NEWS RELEASE
For Immediate Release November 28, 2017
Calgary, Alberta
WEST HIGH YIELD ANNOUNCES PRIVATE PLACEMENT AND RELEASE OF
THIRD QUARTER 2017 FINANCIAL RESULTS
CALGARY, ALBERTA – November 28, 2017. West High Yield (W.H.Y.) Resources Ltd.
("West High Yield " or the "Company") (TSXV:WHY) announces that it is proposing to
complete a non-brokered private placement of up to $850,000 of units ("Units"). Each Unit shall
be issued at a price of $0.35 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 $0.55 for a period of one year from the date of issuance of the Warrant. The proposed
private placement is subject to receipt of all necessary regulatory approvals includin g the
approval of the TSX Venture Exchange.
The net proceeds of the private placement will be used for the continuation of the environmental
base line study , environmental assessment study and mine plan and permit application and
Industrial Quarry Permit application for its Record Ridge deposit near Rossland, British
Columbia and general corporate purposes. 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 opera tions while continued mine plan and permit
application efforts are being made.
The Company also announces the release of its financial results and Management
Discussion and Analysis for the nine months ended September 30, 2017 which have been
filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
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
anticipated sales of industrial rock . 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 bas ed 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 m anagement 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 rel iance 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.