01:00:45 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



West High Yield (WHY) Resources Ltd
Symbol WHY
Shares Issued 89,477,621
Close 2024-01-31 C$ 0.30
Market Cap C$ 26,843,286
Recent Sedar Documents

West High Yield extends term loans from Big Mountain

2024-01-31 16:42 ET - News Release

Mr. Frank Marasco reports

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES LOAN AMENDMENTS

West High Yield (W.H.Y.) Resources Ltd. has entered into loan amending agreements with Big Mountain Development Corp Ltd. (the lender).

The lender has provided term loans to the company in the aggregate amount of $3,339,485, as further set forth in the company's quarterly and annual financial statements. Of the total loan amount, $2,589,485, with interest owing and accruing thereon, became due and owing on Dec. 31, 2021. Of the total loan amount, $750,000, with interest owing and accruing thereon, became due and owing on April 28, 2022.

While both loans have surpassed their respective maturity dates, the lender has been working with the company to ensure its financial success and to amend the terms of the loans to ensure the company can repay the indebtedness owed to the lender. In furtherance of these negotiations, the lender has agreed to extend the expiry date of both loans to Dec. 31, 2024, in consideration for the company paying a loan extension fee to the lender, which shall become due and payable to the lender along with the total loan amount and interest owing and accruing thereon on the new maturity date.

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 emissions.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.