West High Yield Announces Completion of Private Placement and Loan Agreement

West High Yield Resources (TSXV:WHY) announced that it has completed its previously announced non-brokered private placement of common shares. The Company issued 1,515,151 Common Shares at a price of $0.33 per Common Share for gross proceeds of $500,000. All of the Common Shares issued under the private placement are subject to a four month resale restriction.
The net proceeds of the private placement and the principal amount of the Loan shall be used for general corporate purposes, environmental study and mine plan development as required by the Environmental Assessment Certification and Mine Permit application processes and for the extraction and processing of 10,000 tonne bulk samples of magnesium and gold on the Company’s Record Ridge South Property as approved by the British Columbia Ministry of Energy and Mines. The Company expects these operations to occur in the summer of 2016, subject to securing additional funding.