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West High Yield (W.H.Y.) Resources Ltd. Announces Private Placement Offering

Press Release

CALGARY, ALBERTA (July 9, 2024) – West High Yield (W.H.Y.) Resources Ltd. (the “Company” or “West High Yield“) (TSXV:WHY) is pleased to announce a non-brokered private placement offering for the sale of up to 4,545,454 units of the Company (the “Units“) at a price of CAD$0.33 per Unit for aggregate gross proceeds of up to CAD$1,500,000.00 (the “Offering“).

Each Unit issued under the Offering will consist of one (1) common share of the Company (each, a “Share“) and one half (1/2) of one (1) Common Share purchase warrant (each, a “Warrant“). Each full Warrant, together with CAD$0.45, will entitle the holder thereof to acquire one (1) additional Common Share for a period of eighteen (18) months from each full Warrant’s date of issuance. The Warrants will not be listed on the TSX Venture Exchange (“Exchange“).

The Company may pay a finder’s fee in connection with the Offering to eligible finders in accordance with the policies of the TSXV and applicable Canadian securities laws consisting of: (i) a cash commission of up to 6% of the gross proceeds of the Offering; and (ii) common share purchase warrants (the “Finder’s Warrants“) of up to 6% of the number of full Warrants issued under the Offering. The Finder’s Warrant will have identical terms to the Warrants.

The Offering will be completed pursuant to certain exemptions from the prospectus requirements under applicable Canadian securities laws. All securities issued under the Offering are subject to a statutory hold period from their date of issue in accordance with applicable Canadian securities laws. None of the Units will be registered under the United States Securities Act of 1933, as amended, and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The proceeds from the Offering will be used: (a) 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, Mining, and Low Carbon Innovation; (b) concluding its permitting process; (c) covering essential operations; and (d) 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 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 prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.

Contact Information:


Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488


Barry Baim, Corporate Secretary

Telephone: (403) 829-2246




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