WHY Resources closes 1st tranche of financing for $568K

Sep 28, 2017

2017-09-28 10:30 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT

West High Yield (W.H.Y.) Resources Ltd. has completed the first tranche of its previously announced non-brokered private placement of units on Sept. 1, 2017. The company issued an aggregate of 1,893,333 units at a price of 30 cents per unit for gross proceeds of $568,000. Each unit consists of one common share in the capital of the company and one-third of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of 45 cents for a period of one year from the date of issuance of the warrant. All of the securities issued under the private placement are subject to a four-month resale restriction. The private placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. It is expected that the balance of the private placement will be completed within the next few weeks.

The net proceeds of the private placement will be used for general corporate purposes and for the continuation of the environmental base line study, environmental assessment study, mine plan and permit application and industrial rock quarry permit application.

About West High Yield (WHY) Resources Ltd.

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

We seek Safe Harbor.

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