WEST High Yield (W.h.y.) Resources Ltd. Announces Non-Brokered Private Placement
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
February 12, 2021
Calgary, Alberta
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES NON-BROKERED
PRIVATE PLACEMENT
CALGARY, ALBERTA – February 12, 2021 – West High Yield (W.H.Y.) Resources Ltd.
("West High Yield " or the " Company") (TSXV:WHY) is pleased to announce a non-brokered
private placement of units (the "Units") for aggregate gross proceeds of up to CAD$2,500,000 (the
"Offering").
The Offering shall consist of the sale of up to 12, 500,000 Units at a price of CAD$0.20 per Unit.
Each Unit comprised of one (1) common share in the capital of the Company ("Common Shares")
and one (1) Common Share purchase warrant (" Warrants"). Two (2) Warrants, together with
CAD$0.30, will entitle the holder thereof to ac quire one (1) additional Common Share of the
Company for a period of twelve (12) months from th e date of issuance. The Warrants will not be
listed on the TSX Venture Exchange (the "TSXV").
The Offering will be completed pursuant to certa in exemptions from the prospectus requirements
under applicable securities law, and it may be cl osed in one or more tranches. The minimum
subscription per subscriber under the Offering is CAD$5,000. The Offering is scheduled to close
on or about March 31, 2021 and is subject to certa in conditions including, but not limited to, the
receipt of all necessary regulatory and other approvals including the approval of the TSX-V.
The proceeds of the Offering will be used pri marily to fund the completion of the Company’s
approved drilling program on the Company’s Midnight Gold Claim located in the Rossland Gold
Camp in British Columbia. A portion of the proceed s will also be used to fund the completion of
the application by the Company to the British Columbia Department of Mines for the mining permit
for its Record Ridge Magnesium and Nickel Mine located in Rossland, British Columbia and for
general 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.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: [email protected]
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the
meaning of Canadian securities legislation. 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 relia nce 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 ma terially 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 indus try 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; and 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.
This press 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.
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 OF THIS
RELEASE.