West High Yield (W.H.Y.) Resources Ltd. (TSXV:WHY) has announced a non-brokered private placement of up to $600,000 of units. The placement is expected to close on or before September 10 2014.
As quoted in the press release:
Each Unit is priced at $0.30 and consists of one (1) Common Share (“Common Share”) and 1/10 of one (1) Common Share Purchase Warrant (“Warrant”). Ten full Warrants will entitle the holder to purchase one (1) Common Share of the Company at an exercise price of $0.45 for a period of one year from the date of issue. The Private Placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. The proceeds of the Private Placement will be used for general corporate purposes, working capital and obtaining permits for the sale of a 10,000 ton bulk sample and gold reclamation.