West High Yield closes $519,605 first tranche of financing

Oct 12, 2023

2023-10-12 14:22 ET – News Release

Mr. Frank Marasco reports

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

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

The Closing consisted of the issuance of 2,259,152 Units for gross proceeds of $519,605.04. The Units were issued at a price of $0.23 per Unit, and each Unit consists of one (1) Common share of the Company (each, a “Common Share”) and one (1) Common Share purchase warrant (each, a “Warrant”). Each Warrant, together with CAD$0.35, entitles the holder thereof to acquire one (1) additional Common Share until October 12, 2025. The Company did not pay any finder’s fee or issue any warrants to finders in connection with the Closing.

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

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 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.

We seek Safe Harbor.

https://whyresources.com/