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

Alternate Symbol(s):  WHYRF

West High Yield (WHY) Resources Ltd is a Canada-based junior mining exploration and development company. The Company is focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions. The Company’s Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium. The Company retains 100% of the mineral rights to the Record Ridge Property, which consists of 29 contiguous mineral claims, eight crown-granted claims, and one privately owned claim totaling 8,972 hectares. The known magnesium mineralization is located within two of the mineral claims. The infrastructure for the proposed development of the Record Ridge Property is located on mineral tenures controlled by the Company.


TSXV:WHY - Post by User

Comment by OnlyRealityon Oct 11, 2017 4:21pm
239 Views
Post# 26801194

RE:RE:RE:RE:Well Bashers it sucks not to take this opportunity !

RE:RE:RE:RE:Well Bashers it sucks not to take this opportunity !
i don't think the funds (not even the 500k) need to be verified because they are not acquiring all the issued and outstanding shares of the company.


It all depends on what paragraph you are reading in what document. That is what makes this obvious scam so comical and amatuerish.

In the original press release they refered to it as a" take and pay agreement". The problem with that statement is a take a pay agreement is an agreement to purchase a given amount over a given amount of time of the company's products or services. If they fall short then the shortage will have a penalty payment applied which is proportional to the amount of the shortage. The is not a product and services agreement. It is supposed to be a capital asset purchase agreement. Also in that press release they state that the money will be transferred 90 after the  T&P agreement is entered into. Since this company has neither a sellable product or service, that renders this agreement null and void before it even starts

the Company shall have entered into a take and pay agreement(s) in the form and on terms and conditions acceptable to the Purchaser

The closing of the purchase and sale of the Assets is expected to occur on or before the date that is 90 days from the date a take and pay agreement(s) is entered into by the Company in the form and on terms and conditions acceptable to the Purchaser.




Next they call this an asset purchase agreement. This is not a "take and Pay" nor is it a buyout of the company. It is now a flat out Capital Assets sales agreement.

it has signed a definitive arm's length purchase and sale agreement (the "Agreement") to sell 100% of its right, title and interest in its Record Ridge South, Midnight, and O.K. mineral properties



Now on the same day they filed another document to SEDAR in which they are now purchasing the company itself and not just an asset of the company

The Purchaser wishes to purchase and the Seller wishes to sell all of the Sale Shares on and subject to the terms and conditions of this Agreement.


1.1.47
"Sale Shares" means100% of the issued and  outstanding shares in he capital of the Corporation;
2.3.1.1
share certificates representing the Sale Shares duly endorsed in blank for
transfer or accompanied by duly signed powers of attorney for transfer in blank
representing one hundred  percent (100%) ownership interest of the then issued and
outstanding securities of the Corporation



So which farce suits your fancy?   Take and Pay agreement? or a Capital Asset purchase?... or a company buyout?

Add into all that, that the so called legal team for Gryphon knows nothing of this transaction nor do they know who Gryphon is

Add to that the CEO of this $750 million juggernaut rents an apartment in a low-end clapboard building and has been previously charged with securities fraud


So in conclusion this is without a doubt a comedy routine, but it is not a one man stand-up routine. Your CEO is working hand in hand with him all the way. The only logical conclusion that one could draw from all this is that this is leading trailer for a 2017 remake of Dumb and Dumber
 




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