West High Yield (W.H.Y.) Resources Ltd. Announces First Tranche Closing of Private Placement
West High Yield (W.H.Y.) Resources (TSXV: WHY) has announced the first tranche closing of its private placement offering. The company issued 905,000 Units at $0.20 per Unit, raising gross proceeds of $181,000. Each Unit consists of one Common Share and one Warrant, with the Warrant allowing the holder to acquire an additional Common Share at $0.30 within 12 months of closing.
The proceeds will be used for:
- Concluding the permitting process
- Covering essential operations
- General working capital purposes
- Supporting the planned drilling program for water monitoring holes at the Record Ridge magnesium deposit
All securities issued are subject to a four-month plus one day trading hold period.
West High Yield (W.H.Y.) Resources (TSXV: WHY) ha annunciato la chiusura del primo lotto della sua offerta di collocamento privato. La società ha emesso 905.000 unità a 0,20 dollari per unità, raccogliendo proventi lordi di 181.000 dollari. Ogni unità è composta da una azione comune e un warrant, con il warrant che consente al detentore di acquisire un'ulteriore azione comune a 0,30 dollari entro 12 mesi dalla chiusura.
I proventi saranno utilizzati per:
- Concludere il processo di autorizzazione
- Copertura delle operazioni essenziali
- Finalità generali di capitale di esercizio
- Supportare il programma di perforazione pianificato per i fori di monitoraggio dell'acqua presso il deposito di magnesio Record Ridge
Titoli emessi sono soggetti a un periodo di blocco alla negoziazione di quattro mesi più un giorno.
West High Yield (W.H.Y.) Resources (TSXV: WHY) ha anunciado el cierre de la primera serie de su oferta de colocación privada. La compañía emitió 905,000 unidades a $0.20 por unidad, recaudando ingresos brutos de $181,000. Cada unidad consta de una acción ordinaria y un warrant, que permite al titular adquirir una acción ordinaria adicional a $0.30 dentro de los 12 meses posteriores al cierre.
Los ingresos se utilizarán para:
- Concluir el proceso de permisos
- Cubrir operaciones esenciales
- Fines generales de capital de trabajo
- Apoyar el programa de perforación planificado para pozos de monitoreo de agua en el depósito de magnesio Record Ridge
Todos los valores emitidos están sujetos a un período de bloqueo de negociación de cuatro meses más un día.
West High Yield (W.H.Y.) Resources (TSXV: WHY)는 사모펀드의 첫 번째 트랜치 종료를 발표했습니다. 회사는 905,000개의 유닛을 유닛당 $0.20에 발행하여 총 수익 $181,000을 모금했습니다. 각 유닛은 하나의 보통주와 하나의 워런트로 구성되어 있으며, 워런트는 보유자가 종료 후 12개월 이내에 $0.30에 추가 보통주를 취득할 수 있도록 허용합니다.
수익금은 다음과 같은 용도로 사용될 예정입니다:
- 허가 절차 완료
- 필수 운영 비용 보전
- 일반 운영 자금
- Record Ridge 마그네슘 광산에서 물 모니터링 구멍을 위한 계획된 시추 프로그램 지원
발행된 모든 증권은 4개월과 하루의 거래 금지 기간에 적용받습니다.
West High Yield (W.H.Y.) Resources (TSXV: WHY) a annoncé la clôture de la première tranche de son offre de placement privé. La société a émis 905 000 unités à 0,20 $ par unité, levant ainsi des produits bruts de 181 000 $. Chaque unité se compose d'une action ordinaire et d'un bon de souscription, le bon permettant à son détenteur d'acquérir une action ordinaire supplémentaire à 0,30 $ dans les 12 mois suivant la clôture.
Les produits seront utilisés pour :
- Conclure le processus d'autorisation
- Couvrir les opérations essentielles
- Des fins générales de fonds de roulement
- Soutenir le programme de forage prévu pour les trous de surveillance de l'eau sur le gisement de magnésium Record Ridge
Tous les titres émis sont soumis à un délai de restriction de négociation de quatre mois plus un jour.
West High Yield (W.H.Y.) Resources (TSXV: WHY) hat den Ersten Tranche Abschluss seines privaten Platzierungsangebots bekannt gegeben. Das Unternehmen hat 905.000 Einheiten zu einem Preis von 0,20 $ pro Einheit ausgegeben und hat damit Bruttoerlöse von 181.000 $ erzielt. Jede Einheit besteht aus einer Stammaktie und einem Warrant, der dem Inhaber das Recht gibt, innerhalb von 12 Monaten nach dem Abschluss eine zusätzliche Stammaktie zu 0,30 $ zu erwerben.
Die Erlöse werden verwendet für:
- Abschluss des Genehmigungsverfahrens
- Deckung der notwendigen Betriebe
- Allgemeine Betriebskapitalzwecke
- Unterstützung des geplanten Bohrprogramms für Wasserüberwachungsbohrungen am Magnesiumvorkommen Record Ridge
Alle ausgegebenen Wertpapiere unterliegen einer Handelsbeschränkung von vier Monaten und einem Tag.
- Successful closure of the first tranche of private placement, raising $181,000
- Funds to be used for essential operations and advancing the Record Ridge magnesium project
- Warrants provide potential for additional capital injection at $0.30 per share within 12 months
- Dilution of existing shareholders' ownership due to issuance of new shares
- funds raised may not be sufficient for long-term operational needs
Calgary, Alberta--(Newsfile Corp. - September 26, 2024) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, further to its news release of August 29, 2024, it has closed the first tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units").
The Closing consisted of the issuance 905,000 Units for gross proceeds of
The proceeds from the Closing will be used to conclude the Company's permitting process, covering essential operations, general working capital purposes and expenses, and for supporting the Company's planned drilling program for the water monitoring holes at its Record Ridge magnesium deposit, as required by the British Columbia Ministry of Energy, Mines and Low Carbon Innovation.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium, silica, and nickel deposit using green processing techniques to minimize waste and CO2 emissions.
The Company's Record Ridge magnesium 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 prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.
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 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 RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224767
FAQ
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