WEST High Yield (W.h.y.) Resources Ltd. Announces Closing of Shares FOR Debt Transaction
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
June 6, 2022
Calgary, Alberta
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES
CLOSING OF SHARES FOR DEBT TRANSACTION
CALGARY, ALBERTA – June 6, 2022 – West High Yield (W.H.Y.) Resources Ltd. ("West High Yield"
or the "Company") (TSXV:WHY) is pleased to announce that it has completed its previously announced
shares-for-debt transaction (the " Debt Settlement Transaction ") to settle CAD$1,883,822.00 of
outstanding debt owed to an arm’s length third party lender of the Company (the " Creditor") via the
issuance of common shares in the capital of the Company (the "Settlement Shares").
Following receipt of final acceptance from the TSX Venture Exchange ("TSXV") for the Debt Settlement
Transaction, the Company issued 3,139,370 Settlement Shares to the Creditor at a deemed price of
CAD$0.60 per Settlement Share. The Settlement Shares were issued in reliance on certain prospectus
exemptions available under Canadian securities legislation and are subject to a four month and one day
statutory hold period, which will expire on October 7, 2022.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the
acquisition, exploration, and development of mineral resource properties in Canada with a primary
objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize
waste and CO2 emissions.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., 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 informatio n 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 es timates 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, includin g 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; 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 forwa rd-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.