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West High Yield (W.H.Y.) Resources Ltd. Announces Closing of Private Placement
Calgary, Alberta--(Newsfile Corp. - August 22, 2024) - West High Yield (W.H.Y.) Resources Ltd. (T...
About this update from West High Yield (w.h.y.) Resources Ltd.
[{"type":"text","content":"West High Yield (W.H.Y.) Resources Ltd. Announces Closing of Private PlacementCalgary, Alberta--(Newsfile Corp. - August 22, 2024) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the \"Company\" or \"West High Yield\") is announces that, further to its news releases dated July 9, 2024 and August 9, 2024, it is closing its previously announced private placement offering (the \"Offering\") of units (the \"Units\").The Company confirms that it issued a total of 435,076 Units for total gross proceeds of $143,575.05 under the Offering. Each Unit consisted of one (1) Common share of the Company (each, a \"Common Share\") and one half (1/2) of one (1) Common Share purchase warrant (each, a \"Warrant\"). Each Warrant, together with CAD$0.45, entitles the holder thereof to acquire one (1) additional Common Share for eighteen (18) months from each Offering closing date. The Company's news release of August 9, 2024 incorrectly noted that each Unit consisted of one (1) Common Share and one (1) Warrant, and shall be considered corrected by the information contained in this news release.The proceeds from the Offering have and will be used for concluding the Company's mining permitting process, covering essential operations and general working capital purposes and expenses. The Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance and approval of the TSX Venture Exchange (the \"TSXV\"). About West High Yield West High Yield is a publicly traded junior mining exploration and development company 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 based on an independently produced National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\") Preliminary Economic Assessment technical report (titled \"Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada\") prepared by SRK Consult...