00:02:05 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



West High Yield (WHY) Resources Ltd
Symbol WHY
Shares Issued 84,262,051
Close 2023-09-26 C$ 0.22
Market Cap C$ 18,537,651
Recent Sedar Documents

West High Yield reprices financing units

2023-09-26 18:26 ET - News Release

Mr. Frank Marasco Jr. reports

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT REPRICING

West High Yield (W.H.Y.) Resources Ltd. has repriced the non-brokered private placement of units for gross proceeds of up to $900,000, previously announced on Sept. 13, 2023. The price per unit has been repriced from 30 cents per unit to 23 cents per unit.

Each unit will continue to consist of one common share of the company and one common share purchase warrant. Each warrant, together with 35 cents, will entitle the holder thereof to acquire one additional common share for a period of 24 months from the date of issuance of each warrant. The warrants will not be listed on the TSX Venture Exchange. The corporation may still pay finders' fees in connection with the offering to eligible finders in accordance with the policies of the TSX Venture Exchange and applicable Canadian securities laws consisting of: (i) a cash commission of up to 6 per cent of the gross proceeds of the offering; and (ii) a number of common share purchase warrants of up to 6 per cent of the number of units sold pursuant to the offering. The finders' warrants will have identical terms to the warrants.

The offering will be completed pursuant to certain exemptions from the prospectus requirements under applicable Canadian securities laws. All securities issued under the offering are subject to a statutory hold period from their date of issue in accordance with applicable Canadian securities laws.

The proceeds from the offering will be used for supporting the company's pilot testing project, concluding its permitting process, covering essential operations, and general working capital purposes and expenses. The offering is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the acceptance and approval of the TSX-V.

About West High Yield (W.H.Y.) Resources Ltd.

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, silica and nickel deposit using green processing techniques to minimize waste and carbon dioxide (CO2) emissions.

The company's Record Ridge magnesium deposit, located 10 kilometres southwest of Rossland, B.C., has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101, Standards of Disclosure for Mineral Projects, preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.

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