West High Yield arranges $750,000 placement

Sep 1, 2017

2017-09-01 08:50 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD ANNOUNCES PRIVATE PLACEMENT AND INDUSTRIAL QUARRY PERMIT APPLICATION

West High Yield (WHY) Resources Ltd. is proposing to complete a non-brokered private placement of up to $750,000 of units. Each unit shall be issued at a price of 30 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 45 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 general corporate purposes and for the continuation of the environmental baseline study, environmental assessment study and mine plan and permit application.

The company also announces that it has commissioned work on an industrial quarry permit application for its Ivanhoe 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. The industrial quarry permit application process will be led by Greenwood Environmental of Vancouver, B.C., and SRK Consulting. The proposed rock quarry is not subject to the Environmental Assessment Act (British Columbia) or the Canadian Environmental Assessment Act. The company will engage with the B.C. Ministry of Energy Mines and Petroleum Resources on information requirements and timelines.

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.

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