WEST High Yield (W.h.y.) Resources Ltd. Announces Second Tranche Closing of Oversubscribed Private Placement
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
January 18, 2023
Calgary, Alberta
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES
SECOND TRANCHE CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT
CALGARY, ALBERTA – January 18, 2023 – West High Yield (W.H.Y.) Resources Ltd. ("West High
Yield" or the "Company") (TSXV:WHY) is pleased to announce, further to its news releases of December
13, 2022 and December 22, 2022, that it has closed the second tranche (the "Closing") of its previously
announced private placement offering (the "Offering") of ordinary units of the Company (the "Units").
The Closing consisted of the issuance of 309,530 Units for gross proceeds of $130,002.60. The Units were
issued at a price of $0.42 per Unit. Each Unit consists of one (1) Common share of the Company (each, a
"Common Share") and one (1) Common Share purchase warrant (each, a " Warrant"). Each Warrant,
together with CAD$0.70, entitles the holder thereof to acquire one (1) additional Common Share until
January 18, 2025. All securities issued in connection with the Closing are subject to a statutory hold period
in accordance with applicable securities legislation ending on May 19, 2023.
The proceeds from the issuance of the Units will be used for the Company’s general working capital
purposes and expenses.
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 Cana da with a primary
objective to develop its Record Ridge magnesium, silica, and nickel deposit using green processing
techniques to minimize waste and CO2 emissions.
The Company’s Record Ridge magnesium deposit located 10 kilometers southwest of Rossland, British
Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently
produced preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in
accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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 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 condi tions 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 obtai n 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 i nformation, 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 reg istered 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.