West High increases private placement to $1.53-million

Jan 17, 2018

2018-01-16 16:51 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD INCREASES PRIVATE PLACEMENT

On Nov. 28, 2017, West High Yield (WHY) Resources Ltd. proposed to complete a non-brokered private placement of up to $850,000 of units. Each unit was to be issued at a price of 35 cents and would consist of one common share in the capital of the company and one-third of one common share purchase warrant. Each whole warrant would 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 company announces that the proposed private placement has been oversubscribed, and, as a result, with the prior approval of the TSX Venture Exchange, the company has increased the size of the offering to approximately $1.53-million of units. Other than the increase in the size of the offering, the terms and conditions of the private placement have not been amended. It is expected that the company will complete the private placement on or before Jan. 30, 2018.

The proposed private placement is subject to receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

The net proceeds of the private placement will be used for general corporate purposes and for the continuation of the environmental baseline study, environmental assessment study and mine plan and permit application, and industrial quarry permit application for its Record Ridge deposit near Rossland, B.C. The industrial quarry permit sought under the Mines Act (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.

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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