West High arranges $850K financing, files Q3 results

Nov 29, 2017

2017-11-28 14:25 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD ANNOUNCES PRIVATE PLACEMENT AND RELEASE OF THIRD QUARTER 2017 FINANCIAL RESULTS

West High Yield (WHY) Resources Ltd. has arranged a non-brokered private placement of up to $850,000 of units. Each unit shall be issued at a price of 35 cents and shall consist of one common share in the capital of the company and one-third of one common share purchase warrant. Each whole warrant shall entitle the holder to purchase one additional common share at an exercise price of 55 cents for a period of one year from the date of issuance of the warrant. The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The net proceeds of the private placement will be used for the continuation of the environmental baseline study, environmental assessment study, mine plan and permit application, industrial quarry permit application for its Record Ridge deposit near Rossland, B.C., and general corporate purposes. The industrial quarry permit sought under the Mines Act of British Columbia will allow for the extraction and sale of up to 249,999 tonnes per annum of industrial rock. The company is also in the process of developing potential customers with processing facilities and the ability to process the industrial rock. It is anticipated that industrial rock sales will provide cash flows from operations while continued mine-plan and permit-application efforts are being made.

The company also announces the release of its financial results and management discussion and analysis for the nine months ended Sept. 30, 2017, which have been filed with Canadian securities regulatory authorities on SEDAR.

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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