West High Yield (W.H.Y.) Resources Ltd. Announces Stock Option Grant

Rhea-AI Summary

West High Yield Resources announces the issuance of 1,578,000 stock options to directors, officers, and consultants, each entitling the holder to purchase one common share at an exercise price of CAD$0.23 per share.

Calgary, Alberta--(Newsfile Corp. - March 27, 2024) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce that its board of directors approved and authorized the grant and issuance of a total of 1,578,000 stock options (each an "Option" and collectively, the "Options") effective March 25, 2024.

1,160,000 of the Options were issued to the members of the board of directors of the Company; 60,000 of the Options were issued to one (1) officer of the Company; and 403,000 of the Options were issued to four (4) different consultants of the Company. One (1) Option entitles the holder thereof to purchase one (1) common share of the Company (each a "Share" and collectively, the "Shares"). All of the Options vest on their date of grant and have a term of 10 years from their date of grant. The exercise price of the Options was set at CAD$0.23 per Share, which was above the closing trading price of the Shares on the TSX Venture Exchange (the "TSXV") on their date of grant.

The grant of the Options is subject to the approval of 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 deposits 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/203285

FAQ

How many stock options were issued by West High Yield Resources ?

West High Yield Resources issued a total of 1,578,000 stock options.

Who were the recipients of the stock options?

The stock options were issued to the members of the board of directors, one officer, and four different consultants of the Company.

What is the exercise price of the stock options?

The exercise price of the stock options was set at CAD$0.23 per share.

What is the term of the stock options?

The stock options have a term of 10 years from their date of grant.

What is the vesting period for the stock options?

All of the options vest on their date of grant.