West High Yield (W.H.Y.) Resources Ltd. Announces Closing of Private Placement
West High Yield (W.H.Y.) Resources (TSXV: WHY) has announced the closing of its private placement offering, raising CAD$143,575.05 through the issuance of 435,076 Units. Each Unit comprises one Common Share and half of one Common Share purchase warrant. The warrants allow holders to acquire additional shares at CAD$0.45 within 18 months of the closing date. This corrects a previous announcement that mistakenly stated each Unit included a full warrant.
The company plans to use the proceeds for concluding its mining permitting process, covering essential operations, and general working capital purposes. The offering is subject to closing conditions, including approval from the TSX Venture Exchange.
West High Yield (W.H.Y.) Resources (TSXV: WHY) ha annunciato la chiusura della sua offerta di collocamento privato, raccogliendo CAD$143.575,05 tramite l'emissione di 435.076 Unità. Ogni Unità comprende una Azione Ordinaria e metà di un warrant di acquisto di Azioni Ordinarie. I warrant consentono ai possessori di acquisire ulteriori azioni a CAD$0,45 entro 18 mesi dalla data di chiusura. Questo rettifica un annuncio precedente che affermava erroneamente che ogni Unità includesse un warrant completo.
L'azienda prevede di utilizzare il ricavato per concludere il processo di autorizzazione mineraria, coprire le spese operative essenziali e per esigenze generali di capitale circolante. L'offerta è soggetta a condizioni di chiusura, inclusa l'approvazione dalla TSX Venture Exchange.
West High Yield (W.H.Y.) Resources (TSXV: WHY) ha anunciado el cierre de su oferta de colocación privada, recaudando CAD$143,575.05 a través de la emisión de 435,076 Unidades. Cada Unidad consiste en una Acción Común y la mitad de un warrant de compra de Acciones Comunes. Los warrants permiten a los tenedores adquirir acciones adicionales a CAD$0.45 dentro de los 18 meses posteriores a la fecha de cierre. Esto corrige un anuncio anterior que afirmaba erróneamente que cada Unidad incluía un warrant completo.
La compañía planea usar los ingresos para concluir su proceso de permisos de minería, cubrir operaciones esenciales, y para necesidades generales de capital de trabajo. La oferta está sujeta a condiciones de cierre, incluyendo la aprobación de la TSX Venture Exchange.
West High Yield (W.H.Y.) 리소스 (TSXV: WHY)가 사모 배급 제안의 마감을 발표했으며, CAD$143,575.05를 모금하고 435,076 유닛을 발행했습니다. 각 유닛은 하나의 보통주와 하나의 보통주 매수 권리의 절반으로 구성됩니다. 이 권리는 보유자가 마감일로부터 18개월 이내에 CAD$0.45의 가격으로 추가 주식을 매입할 수 있도록 합니다. 이는 각 유닛이 전체 권리를 포함한다고 잘못 설명한 이전 공지를 정정합니다.
회사는 광산 허가 프로세스를 마무리하고 필수 운영 경비를 충당하며 일반 운영 자본을 확보하기 위해 수익금을 사용할 계획입니다. 이 제안은 TSX 벤처 거래소의 승인을 포함한 마감 조건에 따라 진행됩니다.
West High Yield (W.H.Y.) Resources (TSXV: WHY) a annoncé la clôture de son offre de placement privé, levant CAD$143,575.05 par l'émission de 435,076 unités. Chaque unité comprend une action ordinaire et la moitié d'un bon de souscription d'actions ordinaires. Les bons de souscription permettent aux détenteurs d'acquérir des actions supplémentaires à CAD$0.45 dans les 18 mois suivant la date de clôture. Cela corrige une annonce précédente qui stipulait par erreur que chaque unité incluait un bon de souscription complet.
L'entreprise prévoit d'utiliser les fonds pour finaliser son processus de permis minier, couvrir les opérations essentielles et pour les besoins généraux de fonds de roulement. L'offre est soumise à des conditions de clôture, y compris l'approbation de la TSX Venture Exchange.
West High Yield (W.H.Y.) Resources (TSXV: WHY) hat den Abschluss seiner Privatplatzierungsangebot bekannt gegeben und CAD$143.575,05 durch die Emission von 435.076 Einheiten gesammelt. Jede Einheit umfasst eine Stammaktie und die Hälfte eines Kaufoptionsscheins für Stammaktien. Die Optionen ermöglichen es den Inhabern, innerhalb von 18 Monaten nach dem Abschlussdatum zusätzliche Aktien zu einem Preis von CAD$0,45 zu erwerben. Dies korrigiert eine frühere Ankündigung, die fälschlicherweise erklärte, dass jede Einheit eine vollständige Option beinhaltete.
Das Unternehmen plant, die Erlöse für den Abschluss seines Genehmigungsprozesses im Bergbau, die Deckung essentieller Betriebskosten und allgemeine Betriebskapitalzwecke zu verwenden. Das Angebot unterliegt Abschlussbedingungen, darunter die Genehmigung durch die TSX Venture Exchange.
- Successful closing of private placement offering
- Raised CAD$143,575.05 in gross proceeds
- Funds to be used for mining permitting process and essential operations
- Relatively small amount raised, potentially indicating investor interest
- Dilution of existing shareholders' ownership due to new share issuance
Calgary, 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
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 Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101.
Qualified Person
Rick Walker, B.Sc., M.Sc., P.Geo., the Company's geologist, is a "Qualified Person" as defined in NI 43-101 and has reviewed and approved the technical information in this news release.
Contact Information:
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com
Cautionary Note Regarding Forward-looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. 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; and 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.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220831
FAQ
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