WEST High Yield (W.h.y.) Resources Ltd. Announces Private Placement Offering
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
July 9, 2024
Calgary, Alberta
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES
PRIVATE PLACEMENT OFFERING
CALGARY, ALBERTA (July 9, 2024) – West High Yield (W.H.Y.) Resources Ltd. (the "Company" or "West
High Yield") (TSXV:WHY) is pleased to anno unce a non-brokered pr ivate placement offering for the sale of
up to 4,545,454 units of the Company (the "Units") at a price of CAD$0.33 per Unit for aggregate gross proceeds
of up to CAD$1,500,000.00 (the "Offering").
Each Unit issued under the Offering will consist of one (1) common share of the Company (each, a " Share")
and one half (1/2) of one (1) Common Share purchase warrant (each, a "Warrant"). Each full Warrant, together
with CAD$0.45, will entitle the holder thereof to ac quire one (1) additional Common Share for a period of
eighteen (18) months from each full Wa rrant’s date of issuance. The Warrants will not be listed on the TSX
Venture Exchange ("Exchange").
The Company may pay a finder's fee in connection with the Offering to eligible finders in accordance with the
policies of the TSXV and applicable Canadian securities laws consisting of: (i) a cash commission of up to 6%
of the gross proceeds of the Offering; a nd (ii) common share purchase warrants (the " Finder's Warrants") of
up to 6% of the number of full Warrants issued under th e Offering. The Finder's Warrant will have identical
terms to the Warrants.
The Offering will be completed pur suant to certain exemptions from th e prospectus requirements under
applicable Canadian securities laws. All securities is sued under the Offering are subject to a statutory hold
period from their date of issue in acc ordance with applicable Canadian securi ties laws. None of the Units will
be registered under the United States Securities Act of 1933, as amended, and none may be offered or sold in the
United States absent registration or an applicable exemption from the registration requirements.
The proceeds from the Offering will be used: (a) for supporting the Company’s planned drilling program for the
water monitoring holes at its Record Ridge magnesium deposit, as required by the British Columbia Ministry of
Energy, Mining, and Low Carbon Innovation; (b) con cluding its permitting process; (c) covering essential
operations; and (d) general working capital purposes and ex penses. The Offering is subject to certain closing
conditions including, but not limited to, the receipt of all necessary appr ovals, including the acceptance and
approval of the TSXV.
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, si lica, and nickel) deposit using green processing techniques to minimize
waste and CO2 emissions.
The Company’s Record Ridge critical mineral deposit lo cated 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-lookin g 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 uncer tainties 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 ec onomic 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.