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WHY West High Yield Resources Ltd

0.255
0.00 (0.00%)
28 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
West High Yield Resources Ltd TSXV:WHY TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.255 0.25 0.255 0.255 0.25 0.25 31,500 14:57:02

West High Yield Closes Private Placement

27/09/2013 5:51pm

Marketwired Canada


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 was
oversubscribed and the Company raised gross proceeds of $767,189.25 through the
issuance of 1,704,865 Units (the "Units") at a price of $0.45 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 $0.60 for a
period of one year from the date of issue. The Company paid finder's fees of
$75,369 and issued 145,761 broker warrants 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 proceeds of
the private placement will be used for general corporate purposes, working
capital and updating the Company's previously released Preliminary Economic
Assessment.


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.


49,276,093 Common Shares Issued

FOR FURTHER INFORMATION PLEASE CONTACT: 
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
www.whyresources.com

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