West High Yield arranges $2-million private placement

Feb 27, 2019

2019-02-26 20:56 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD ANNOUNCES PRIVATE PLACEMENT

West High Yield (WHY) Resources Ltd. proposes to complete a non-brokered private placement of units. Each unit will 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. There is no minimum subscription for this offering and a maximum of 5,714,285 Units will be issued at a price of $0.35 per Unit for gross proceeds of up to $2,000,000.

The Company may pay finder’s fees on all or a portion of the private placement to eligible persons seeking subscribers to the financing, all in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the “Exchange”). The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the Exchange. The Company confirms that, as of the date of this press release, there is no “material fact” or “material change” (as those terms are defined under applicable securities laws) related to the Company which has not been generally disclosed.

Assuming the maximum offering is completed, approximately $1,500,000 of the net proceeds are expected to be used for the environmental base line study, environmental assessment study and mine plan and permit application and Industrial Mineral Mine Permit application for the Company’s Record Ridge deposit near Rossland, British Columbia and the balance of the net proceeds will be used for general corporate purposes. If the offering is not fully subscribed, the Company will apply the proceeds to the above uses in priority and in such proportions as the board of directors and management of the Company determine is in the best interests of the Company. Although the Company intends to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.

The Company will be exhibiting in Booth IE2923, at this year’s Prospectors and Developers Association of Canada (PDAC) 2019 Convention in Toronto, Ontario, March 3- 6, 2019.

About West High Yield

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.

http://www.whyresources.com/news/2019/