WEST High Yield (W.h.y.) Resources Ltd. Announces Appointment of Velocity Trade Capital Ltd. Market Making Services
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
February 1, 2024
Calgary, Alberta
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES APPOINTMENT OF VELOCITY
TRADE CAPITAL LTD. MARKET MAKING SERVICES
CALGARY, ALBERTA (February 1, 2024) – West High Yield (W.H.Y.) Resources Ltd. (the "Company" or
"West High Yield ") (TSXV:WHY) is pleased to announce that it has engaged Velocity Trade Capital Ltd.
("Velocity Trade") to provide market-making services to the Company in accordance with applicable securities
laws and the policies of the TSX Venture Exchange (" Exchange") pursuant to the terms of a liquidity program
services agreement (the "Services Agreement").
Services Agreement
Pursuant to the Services Agreement, Velocity Trade will manage trading of the Company’s securities listed on
the Exchange from time to time for the purposes of maintaining an orderly market, with a view to reducing
trading volatility and improving the liqu idity of the Company's securities. The funding and securities required
for these services undertaken will be provided by Velocity Trade.
In consideration for the provision of the services by Velocity Trade under the Services Agreement, West High
Yield has agreed to pay Velocity Trade a monthly fee of $5,000 per month. The Services Agreement has a
minimum set term of sixty days, after which either party may terminate the Services Agreement by providing
the other with not less than 30 days prior written notice of termination.
Termination of Letter Agreement
The Company also announces that it has effectively terminated the letter agreement with Red Cloud Securities
Inc., originally announced on November 30, 2022, said termination taking effect as of January 31, 2024.
About Velocity Trade
Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ontario, and registered
for trading in the provinces of Ontario, British Columbia, Alberta, and Manitoba. Velocity Trade is a member
of the TMX, and of the Canadian Investment Regulatory Organization. Additionally, the firm and its affiliate
companies are regulated internationally by the UK’s Financial Conduct Authorit y (FCA), the Authority for
Financial Markets (AFM) in the Netherlands, the Australian Securities and Investment Commission (ASIC),
South Africa’s Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore, among
others.
Velocity Trade and West High Yield are not related parties and have no other agreements other than the market
liquidity agreement which is the subject of this news release.
The engagement of Velocity Trade to provide market liquidity services to West High Yield is subject to
acceptance of the Exchange.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on acquiring,
exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record
Ridge critical mineral magnesium, silica, and nickel deposits 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
National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") Preliminary Economic
Assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.
Contact Information:
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: [email protected]
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
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 t he 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 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; 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 OR ACCURACY OF THIS RELEASE.