West High Yield closes $130,002 tranche of financing

Jan 19, 2023

2023-01-18 15:54 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES SECOND TRANCHE CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT

Further to its news releases of Dec. 13, 2022, and Dec. 22, 2022, West High Yield (W.H.Y.) Resources Ltd. has closed the second tranche of its previously announced private placement offering of ordinary units of the company.

The Closing consisted of the issuance of 309,530 Units for gross proceeds of $130,002.60. The Units were issued at a price of $0.42 per Unit. Each Unit consists of one (1) Common share of the Company (each, a “Common Share”) and one (1) Common Share purchase warrant (each, a “Warrant”). Each Warrant, together with CAD$0.70, entitles the holder thereof to acquire one (1) additional Common Share until January 18, 2025. All securities issued in connection with the Closing are subject to a statutory hold period in accordance with applicable securities legislation ending on May 19, 2023.

The proceeds from the issuance of the Units will be used for the Company’s general working capital purposes and expenses.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium, silica, and nickel deposit using green processing techniques to minimize waste and CO2 emissions.

The Company’s Record Ridge magnesium deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.

http://www.whyresources.com