Business
West High Yield (W.H.Y.) Resources Ltd. Announces Flow-Through and Standard Private Placement Offerings
Calgary, Alberta--(Newsfile Corp. - December 13, 2022) - West High Yield (W.H.Y.) Resources Ltd. ...
About this update from West High Yield (w.h.y.) Resources Ltd.
[{"type":"text","content":"West High Yield (W.H.Y.) Resources Ltd. Announces Flow-Through and Standard Private Placement OfferingsCalgary, Alberta--(Newsfile Corp. - December 13, 2022) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (\"West High Yield\" or the \"Company\") is pleased to announce two concurrent private placement offerings (collectively, the \"Offerings\") to raise aggregate gross proceeds of up to CAD$1,250,000. GloRes Securities Inc. (the \"Agent\") will act as Agent for the Offerings.The first of the two Offerings shall consist of the sale of up to 1,500,000 units (the \"Flow-Through Units\") of the Company at a price of CAD$0.50 per Flow-Through Unit for gross proceeds of up to $750,000. Each Flow-Through Unit shall be comprised of: (i) one (1) Common share of the Corporation (each, a \"Common Share\") issued on a \"flow-through basis\" under the Income Tax Act (Canada) (the \"Act\") for Canadian Exploration Expense (CEE) and Canadian Development Expenses (CDE), as those terms are defined in the Act (the \"Flow-Through Shares\"); and (ii) one half (1/2) of one (1) Common Share purchase warrant (each, a \"Flow-Through Warrant\"). Each Flow-Through Warrant, together with CAD$0.70, will entitle the holder thereof to acquire one (1) additional Common Share for a period of eighteen (18) months from the date of issuance. The Flow-Through Warrants will not be listed on the TSX Venture Exchange (the \"TSXV\"). The second of the two Offerings shall consist of the sale of up to 1,190,476 units (the \"Standard Units\") of the Company at a price of CAD$0.42 per Standard Unit for gross proceeds of up to CAD$500,000. Each Standard Unit shall be comprised of one (1) Common Share and one (1) Common Share purchase warrant (each, a \"Standard Warrant\"). Each Standard Warrant, together with CAD$0.70, will entitle the holder thereof to acquire one (1) additional Common Share for a period of twenty-four (24) months from the date of issuance. The Standard Warrants will not be listed on the TSXV. For its role as agent under the Offerings, the Agent will receive: (i) a cash commission equal to 6% of the aggregate gross proceeds raised by the Company under the Offerings from investors that were introduced to the Company by the Agent; and (ii) broker warrants (the \"Broker Warrants\") equal to 6% of the sum of Regular Units and Flow-Through Units issued p...