West High Yield (W.H.Y.) Resources Ltd.
TSX VENTURE : WHY

West High Yield (W.H.Y.) Resources Ltd.

September 17, 2014 08:57 ET

West High Yield Closes Private Placement

CALGARY, ALBERTA--(Marketwired - Sept. 17, 2014) - West High Yield (W.H.Y.) Resources Ltd. ("West High" or the "Company") (TSX VENTURE:WHY) is pleased to announce that it 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 (the "Units") at a price of $0.30 per Unit.

Each Unit consists of one (1) Common Share ("Common Share") and one (1) Common Share Purchase Warrant ("Warrant"). Ten full Warrants will entitle the holder to purchase one (1) Common Share of the Company at an exercise price of $0.45 for a period of one year from the date of issue. The Company paid finder's 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.

About West High

West High is a publicly traded intermediate 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. The Company is currently undertaking to develop its magnesium property located in Rossland, British Columbia.

For further information please contact the officers below or visit the Company's website at www.whyresources.com.

READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.

50,511,759 Common Shares Issued

Contact Information

  • West High Yield (W.H.Y.) Resources Ltd.
    Frank Marasco
    President and Chief Executive Officer
    (403) 660-3488
    (403) 206-7159 (FAX)
    frank@whyresources.com

    West High Yield (W.H.Y.) Resources Ltd.
    Dwayne Vinck
    Chief Financial Officer
    (403) 257-2637
    (403) 206-7159 (FAX)
    vinck@shaw.ca