Calgary, Alberta--(Newsfile Corp. - November 23, 2020) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces the release of its third quarter financial results which have been filed with Canadian securities regulatory authorities under the Company's profile on SEDAR at www.sedar.com.
The Company also announces modifications to its previously announced private placements and advises that the Company is now offering a single non-brokered private placement (the "Offering"). The Offering is a Private Placement of up to $2,500,000 for 12,500,000 Units of the Company comprised of 12,500,000 Common Shares and 12,500,000 Common Share Purchase Warrants (the "Warrants"). Each Unit is priced at $0.20 per Unit. The Warrants expire 12 months from the date of issue and two (2) Warrants together with $0.30 will entitle the holder to acquire one (1) additional Common Share of the Company. The minimum subscription on the Offering is $5,000. The proceeds from the sale of the Units will be used to fund the Company's completion of the 22 drill holes on its Midnight Gold Claim, the advancement of the permit for the Record Ridge magnesium asset and for general working capital.
Closing of the Offering is anticipated to occur on or before December 30, 2020 and is subject to final receipt and approval of the TSX Venture Exchange (the "TSXV"). Finder's fees may be payable to qualified agents in appropriate circumstances in connection with the Offering.
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.
For further information, please contact:
Frank Marasco
President and Chief Executive Officer West
High Yield (W.H.Y.) Resources Ltd.
Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: frank@whyresources.com
1
Reader Advisory
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company's business plans. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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 press release. This press release is not for distribution in the United States.
2
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68675
