West High appoints Baim as director, Kennedy resigns
2019-11-27 12:39 ET – News Release
Mr. Frank Marasco reports
WEST HIGH YIELD ANNOUNCES BOARD AND MANAGEMENT CHANGES
West High Yield (WHY) Resources Ltd.’s Barry Baim will transition from his current executive role as vice-president of corporate development and has accepted appointment to the board of directors of the company, effective today. Mr. Baim brings to the board a deep understanding of the next steps required for the continuing development of the company’s Record Ridge mine and the commercial requirements of an evolving dynamic growth oriented global magnesium marketplace.
Mr. Baim has been a senior leader for Molson Coors, as well as an executive in the resource sector with companies in seismic, oil-sands mining services and production optimization. He is a past director of Siksika Resource Development Ltd., Paradigm Chemical Technologies, Millennium Seismic and currently serves as a director for SGV Canada Ltd. President and chief executive officer Frank Marasco states: “This announcement underscores the company’s commitment to augment the current strength of the board with relevant skills and competencies required for the next step in the strategic commercialization of the company’s mine assets.”
Coincident with this announcement, the company’s board of directors approved the granting of 100,000 options to Mr. Baim. The options are issued with an exercise price of 15 cents per share and have a five-year term.
Furthermore, it is with deep appreciation for his years of outstanding service and guidance that the company announces that Ian Kennedy has resigned from the board of directors, effective Nov. 25, 2019. Mr. Kennedy has agreed to assist the company through taking an advisory role, providing support, guidance and ensuring that the transition is as smooth as possible. His efforts have been instrumental in the mine permit submission, currently in its final phase, and the extremely positive optimization results of the planned metallurgical process reflecting much higher magnesium yields and purity. The company will conduct a thorough search for a qualified new director and, with Mr. Kennedy’s advisory support, facilitate the orderly transition to a new director. The company thanks Mr. Kennedy for his professionalism and commitment to the success of the company today and in the future while wishing him all the best.
In addition, the company announces that is has accepted the resignation of Dwayne Vinck, the company’s chief financial officer, effective as of Nov. 20, 2019. The company wishes to thank Mr. Vinck for his 12 years of service and all the best in his future endeavours. A search for his replacement has been initiated and an announcement will follow in this regard. In the interim, the company has arranged transitional financial services to ensure the continuing effectiveness of the organization.
The company is looking forward to completion of the final step of the permit process and the move toward initiation of the mining process. The company also announces that it has entered in an agreement to process 360,000 tonnes of mine tailings located on its Rossland gold camp property to recover base minerals, primarily gold.
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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