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

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

August 09, 2013 13:27 ET

West High Yield Releases Second Quarter 2013 Financial Results and Proposed Private Placement

CALGARY, ALBERTA--(Marketwired - Aug. 9, 2013) - West High Yield (W.H.Y.) Resources Ltd. ("West High Yield" or the "Company") (TSX VENTURE:WHY) announces the release of its financial results andManagement Discussion and Analysis ("MD&A") for the six months ended June 30, 2013. The unaudited interim condensed financial statements and related MD&A for the six months ended June 30, 2013 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.

The Company also announces a proposed non-brokered private placement of up to $720,000 through the sale of up to 1,600,000 Units (the "Units") at a price of $0.45 per Unit. Each Unit will consist of one (1) Common Share ("Common Share") in the capital of the Company 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 $0.60 for a period of one year the from the date of issue (the "Warrant Term"). The Company may pay finder's fees to qualified arm's length third parties. The private placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. The private placement is expected to close on or before September 19, 2013. The proceeds of the private placement will be used for general corporate purposes and working capital.

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.

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.

47,571,228 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)

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