West High Yield (W.H.Y.) Resources Ltd. Announces Final Closing of Oversubscribed Private Placement
West High Yield Resources has successfully completed the final closing of its oversubscribed private placement offering. The final tranche consisted of 1,737,899 Units issued at $0.23 per Unit, generating gross proceeds of $399,717. In total, the company issued 4,669,290 Units, raising aggregate proceeds of $1,073,937.33.
Each Unit comprises one Common Share and one Warrant, with each Warrant allowing holders to acquire an additional Common Share at CAD$0.35 within 12 months from the closing date. The securities are subject to a four-month plus one-day trading hold period. The proceeds will fund the company's permitting process, essential operations, and working capital requirements.
West High Yield Resources ha completato con successo la chiusura finale della sua offerta privata in eccesso di sottoscrizioni. L'ultima tranche consisteva di 1.737.899 Unità emesse a $0,23 per Unità, generando proventi lordi di $399.717. In totale, l'azienda ha emesso 4.669.290 Unità, raccogliendo proventi aggregati di $1.073.937,33.
Ogni Unità comprende una Azione Ordinaria e un Warrant, con ogni Warrant che consente ai titolari di acquisire un'ulteriore Azione Ordinaria a CAD$0,35 entro 12 mesi dalla data di chiusura. I titoli sono soggetti a un periodo di blocco di trading di quattro mesi più un giorno. I proventi finanzieranno il processo di autorizzazione dell'azienda, le operazioni essenziali e le esigenze di capitale circolante.
West High Yield Resources ha completado con éxito el cierre final de su oferta de colocación privada sobre suscripciones. La última tranche consistió en 1.737.899 Unidades emitidas a $0,23 por Unidad, generando ingresos brutos de $399.717. En total, la empresa emitió 4.669.290 Unidades, recaudando ingresos agregados de $1.073.937,33.
Cada Unidad comprende una Acción Común y un Warrant, con cada Warrant permitiendo a los titulares adquirir una Acción Común adicional a CAD$0,35 dentro de los 12 meses a partir de la fecha de cierre. Los valores están sujetos a un período de retención de trading de cuatro meses más un día. Los ingresos financiarán el proceso de permisos de la empresa, operaciones esenciales y requisitos de capital de trabajo.
West High Yield Resources는 초과 청약으로 진행된 사모 배정의 최종 마감을 성공적으로 완료했습니다. 마지막 트랜치는 $0.23 per Unit에 발행된 1,737,899 유닛으로 구성되어 있으며, 총 수익은 $399,717입니다. 총 4,669,290 유닛이 발행되어 $1,073,937.33의 총 수익을 올렸습니다.
각 유닛은 하나의 보통주와 하나의 워런트로 구성되어 있으며, 각 워런트는 보유자가 마감일로부터 12개월 이내에 CAD$0.35에 추가 보통주를 인수할 수 있도록 합니다. 이 증권은 4개월과 하루의 거래 보유 기간에 적용됩니다. 수익금은 회사의 허가 절차, 필수 운영 및 운영 자본 요구 사항을 충당하는 데 사용됩니다.
West High Yield Resources a réussi à finaliser la clôture de son offre de placement privé sursouscrite. La dernière tranche a consisté en 1.737.899 unités émises à $0,23 par unité, générant des recettes brutes de $399.717. Au total, la société a émis 4.669.290 unités, levant des recettes agrégées de $1.073.937,33.
Chaque unité comprend une action ordinaire et un bon de souscription, chaque bon permettant aux détenteurs d'acquérir une action ordinaire supplémentaire à CAD$0,35 dans les 12 mois suivant la date de clôture. Les titres sont soumis à une période de blocage de trading de quatre mois et un jour. Les recettes financeront le processus d'autorisation de l'entreprise, les opérations essentielles et les besoins en fonds de roulement.
West High Yield Resources hat erfolgreich den endgültigen Abschluss seiner überzeichneten Privatplatzierung abgeschlossen. Die letzte Tranche bestand aus 1.737.899 Einheiten, die zu $0,23 pro Einheit ausgegeben wurden und Bruttoerlöse von $399.717 generierten. Insgesamt hat das Unternehmen 4.669.290 Einheiten ausgegeben und damit Gesamterlöse von $1.073.937,33 erzielt.
Jede Einheit besteht aus einer Stammaktie und einem Warrant, wobei jeder Warrant den Inhabern das Recht einräumt, innerhalb von 12 Monaten nach dem Abschlussdatum eine zusätzliche Stammaktie zu einem Preis von CAD$0,35 zu erwerben. Die Wertpapiere unterliegen einer Handelsbeschränkung von vier Monaten und einem Tag. Die Erlöse werden zur Finanzierung des Genehmigungsprozesses des Unternehmens, der wesentlichen Betriebe und der Betriebskapitalanforderungen verwendet.
- Successfully raised over $1 million in oversubscribed private placement
- Strong investor interest demonstrated by oversubscription
- Dilutive impact on existing shareholders through issuance of new shares and warrants
- Additional dilution possible if warrants are exercised within 12 months
Calgary, Alberta--(Newsfile Corp. - March 25, 2025) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (FSE: W0H) (the "Company" or "West High Yield") announces that, further to its news releases dated February 20, 2025 and March 10, 2025, it is closing the final tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units").
The Closing
The Closing consisted of the issuance of 1,737,899 Units for gross proceeds of
The Offering
After completion of the Closing, the Company confirms that it issued a total of 4,669,290 Units for total gross proceeds of
The oversubscription, which is in accordance with the pricing requirements under Policy 4.1 - Private Placements of the TSX Venture Exchange (the "TSXV"), among other items such as the acceptance and final approval of the Offering, remain subject to approval by the TSXV, which the Company has submitted for as of the date of this news release.
The proceeds from the Closing have been and will be used by the Company to conclude its permitting process, cover essential operations and for general working capital purposes and expenses.
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 and which can be found on the Company's profile at https://www.sedarplus.ca.
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/245997
FAQ
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