19:35:28 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



West High Yield (WHY) Resources Ltd
Symbol WHY
Shares Issued 87,680,726
Close 2023-11-01 C$ 0.21
Market Cap C$ 18,412,952
Recent Sedar Documents

West High Yield closes second tranche financing

2023-11-02 14:24 ET - News Release

Mr. Frank Marasco Jr. reports

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES SECOND TRANCHE CLOSING OF PRIVATE PLACEMENT

Further to West High Yield (W.H.Y.) Resources Ltd.'s news releases of Sept. 13, 2023, Sept. 26, 2023, and Oct. 26, 2023, it has closed the second tranche of its previously announced private placement offering of units.

The closing consisted of the issuance of 1,277,956 units for gross proceeds of $293,929.88. The units were issued at a price of 23 cents per unit, and each unit consists of one common share of the company and one common share purchase warrant. Each warrant, together with 35 cents, entitles the holder thereof to acquire one additional common share until Nov. 2, 2025.

In connection with the closing and the first closing of the offering on Oct. 12, 2023, the company paid a finder's fee and issued finders' warrants to one finder. The company paid a finder's fee of $2,760.00 to the finder and issued 12,000 finder's warrants to the finder, where each finder's warrant, together with 35 cents, entitles the finder to acquire one additional common share until Nov. 2, 2025.

The proceeds from the closing 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.

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 CO2 (carbon dioxide) 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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