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West High Yield closes $370,700 placement

Sep 17, 2014

WEST HIGH YIELD CLOSES PRIVATE PLACEMENT

West High Yield (WHY) Resources Ltd. has successfully closed its previously announced non-brokered private placement. The private placement raised gross proceeds of $370,700 through the issuance of 1,235,666 units at a price of 30 cents per unit.

Each unit consists of one common share and one common share purchase warrant. Ten full warrants will entitle the holder to purchase one common share of the company at an exercise price of 45 cents for a period of one year from the date of issue. The company paid finders’ fees of $23,000 to a qualified arm’s-length third party. The private placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. The proceeds of the private placement will be used for general corporate purposes, working capital and obtaining a 10,000-ton bulk sample gold permit and a gold reclamation permit on reject rock.

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