West High Yield (TSXV:WHY) focuses on critical minerals with a high-grade magnesium project nearing production. The company’s Record Ridge property will soon capitalize on the opportunity to create a new supply of magnesium outside of China and Russia. West High Yield has an experienced management team ready to bring its project to production.
The 100 percent owned Record Ridge project in British Columbia is poised to create a secure, strategic domestic supply chain to cater to North America’s magnesium demand. The company is currently awaiting permits to begin production. Once production commences, West High Yield will begin generating cash flow through the sale of ore and seek new offtake agreements.
The Record Ridge asset has one of the largest and highest-grade magnesium deposits in North America, and globally. The company’s resource estimate shows 43 million tonnes of ore at 24.6 percent magnesium, which implies it is a world-class asset containing 10.6 million tonnes of magnesium. In addition, West High Yield’s pre-feasibility study indicates strong economics with an after-tax NPV of 5 percent of $872 million, an internal rate of return (IRR) of 72 percent over a 172-year mine life, and payback in 1.5 years.
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West High Yield (TSXV:WHY) is an exploration and development mining company focusing on critical minerals with a high-grade magnesium project nearing production. The company’s Record Ridge property project is poised to capitalize on the opportunity to create a new supply of magnesium outside of China and Russia. West High Yield has an experienced management team ready to bring its project to production.
More than 85 percent of the world’s magnesium supply comes from China and 10 percent from Russia. China also supplies 95 percent of Europe’s magnesium needs. Meanwhile, demand for magnesium is growing in multiple verticals, including the renewable energy sector and pharmaceutical industry. In addition, magnesium is a necessary mineral to reach global net-zero emissions goals by 2050. These global dynamics highlight the need to develop a onshore, secure and strategic domestic supply chain for magnesium amid continuing supply shortages. No matter what decarbonization path one follows, the metals and mining sector will be at the core of enabling the energy transition that underpins modern society.
West High Yield’s advanced 100 percent owned Record Ridge project in British Columbia is poised to create a secure, strategic domestic supply chain to cater to North America’s magnesium demand. The company is currently awaiting permits to begin production. Once production commences, West High Yield will begin generating cash flow through the sale of ore and seek new offtake agreements.
The Record Ridge asset has one of the largest and highest-grade magnesium deposits in North America, and globally. The company’s resource estimate shows 43 million tonnes of ore at 24.6 percent magnesium, which implies it is a world-class asset containing 10.6 million tonnes of magnesium. In addition, West High Yield’s pre-feasibility study indicates strong economics with an after-tax NPV of 5 percent of $872 million, an internal rate of return (IRR) of 72 percent over a 172-year mine life, and payback in 1.5 years.
Additionally, the company has developed a green mining and refinement process to minimize carbon emissions during production. This green process utilizes over 90 percent of the ore extraction not only magnesium but saleable quantities of silica, nickel and iron. Magnesium is widely used in renewable energy technologies, so maintaining a strong ESG rating is essential for downstream manufacturing.
An experienced management team with expertise throughout the mining industry leads the company towards fully capitalizing on its promising asset. Experts in geology, corporate administration, and engineering create confidence in the team’s ability to reach its goals.
Record Ridge Commercial Proprietary Hydrometallurgical Process
The 100 percent owned Record Ridge project covers 8,972 hectares, approximately 7.5 kilometers west to southwest of Rossland, BC. The project is only 5 kilometers away from the US-Canadian border and has excellent regional infrastructure, including power, water, roads, proximate labor force and transportation. West High Yield plans to reach production in 2023.
Frank Marasco is the founder of West High Yield Resources. Marasco is also president and director of Big Mountain Development Corp. Over the course of 45 years, Marasco has built and sold 47 successful businesses, including hotels, motels, rental units, RV and mobile home parks, apartments, retail liquor stores, pubs, nightclubs and a retail mall. At the age of 47, he retired, later going into business in the oil and mining sectors. He had purchased 81 oil and gas development sections in S.E. Saskatchewan in the Bakken, as well as gold mines in Rossland, BC. After briefly exploring for and finding gold on the project, Marasco and his team then discovered what is now a world-class, 2,000-acre, high-grade, low cost, critical mineral magnesium deposit known as Record Ridge.
Barry Baim brings over 35 years activating and inspiring teams to achieve profitable revenue growth. His senior leadership experience is diverse having held executive positions with both private and public companies including Tier one CPG and in the natural resource sector mining site development projects in oil sands, 3d seismic, logistics, remote lodging and other service-related entities in energy, oil and gas. Baim is currently a director for SGV Canada and a past board member with Millennium Seismic, Paradigm Chemical Technologies and Siksika Resource Developments Ltd.
Patricia Nelson was controller for Sabre Petroleum's, Petroterra Natural Resources and manager of Financial Control for Suncor. She is the vice-chair and director of the In Situ Oil Sands Alliance, director of Altalink, and director of Optiom Inc.. Nelson served 15 years as an elected Member of the Legislature of Alberta. She was appointed and served as Minister of Energy, Minister of Economic Development and Tourism, Minister of Government Services and finally, was appointed Minister of Finance. She served 12 years as a member of the Treasury Board and the Agenda and Priorities Committee of the Government. An active member in the community, she supports charitable organizations such as the Kidney Foundation, the Cancer Foundation, Heart and Stroke and Juvenile Diabetes.
Maria Marasco is an independent business woman who has provided services in corporate restructuring finance, acquisitions, and strategic planning. She is also responsible for overseeing management information systems, human resource strategies, and property management systems.
Shelina Hirji is a designated accountant with over 38 years of experience in infrastructure construction, oil and gas exploration, and mining. Hirji has been engaged in the oil and gas industry since early 1990, starting with various senior accounting and management roles in both public and private companies with extensive participation in growth opportunities. She has been a key member of the executive management team, assuming a strategic role in the overall management of the company. Hirji's experience in financial management including financial reporting, corporate accounting, budgeting and forecasting, as well as stewardship of internal controls. Hirji is a member of the Chartered Professional Accountants of Alberta and the advisory committee for TSX Venture Exchange.
Dr. Fouad Kamaleddine is the founder/principal of AIS Inc., an integrated mining consulting partnership that provides technical services to mining companies including processing and metallurgy, project development and engineering studies. He has been an officer and director of many public and private mining companies. Kamaleddine has over 20 years of academic and industry experience with demonstrated success in conducting challenging industrial research leading to several inventions and multiple achievement awards.
Greg Davison is a professional consulting exploration geologist, technical advisor, qualified person, project generator and manager, and ore mineralogist (exploration and metallurgy). Davison is currently licensed in British Columbia (EGBC) and has over forty-four years of practical field, laboratory and management experience in diverse geological settings. He completed his B.Sc. (honors geology) at Dalhousie University, Nova Scotia (1974-1979) and his M.Sc. (geology) at Brock University, Ontario (1981-1984), and is on the board of directors of TSX-V-listed Silver Spruce Resources and Playfair Mining. Davison provides extensive management, operational and applied skills for mineral exploration, including technical analysis of process mineralogy, petrography and ore geology, at all project levels from grassroots through advanced development and mining.
Rick Walker has over 25 years of geological and structural mapping experience in the mineral exploration industry. Walker has a strong background, ranging from structurally complex areas to advanced exploration property definition. In addition, he has worked on a wide variety of deposit types, including porphyries, sedimentary exhalative, volcanogenic massive sulphides, low tonnage vein-type, industrial minerals; gold, silver, base metals, rare to strategic metals and diamonds. Walker has delivered significant geological value throughout his career for companies, ranging from junior to major resource companies, both nationally and internationally. He has also served as a volunteer for industry-related organizations, serving for 12 years as president of the East Kootenay Chamber of Mines, five years as a director of the BC and Yukon Chamber of Mines (now the Association of Mineral Exploration for BC), on the committee that developed the initial Mineral Exploration Code for BC and as an industry representative in the Commission on Resources and Environment (CORE) process resulting in the East Kootenay Land Use Plan.
Corey Peck is a junior geologist who came to West High Yield Resources in the spring of 2007. He studied at the University of Calgary, where he received a B.Sc. in geology, with a minor in earth science. He has extensive training in both the field and lab settings. His skill set encompasses all aspects of geology, geophysics and geography, with particular emphasis on geotechnical logging, mineralogy and mapping. He currently resides full time in Rossland, BC.
Visit West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) at Booth #3332 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 5 to Wednesday, March 8, 2023.
About West High Yield (W.H.Y.) Resources Ltd.
West High Yield (W.H.Y.) Resources Ltd. 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 critical mineral 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 preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About PDAC
PDAC 2023: The World's Premier Mineral Exploration & Mining Convention is the leading event for people, companies and organizations connected to mineral exploration.
This annual convention in Toronto, Canada is known for attracting up to 30,000 attendees from over 130+ countries for its educational programming, networking events, outstanding business opportunities and fun. Since it began in 1932, the PDAC Convention has grown in size, stature and influence. Today, it is the event of choice for the world's mineral industry hosting more than 1,100 exhibitors and 2,500 investors.
For more information and/or to register for the conference please visit: https://www.pdac.ca/convention/attend/registration.
We look forward to seeing you there.
For further information:
West High Yield (W.H.Y.) Resources Ltd.
Barry Baim
4038292246
Barry@whyresources.com
www.whyresources.com
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West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce that it has engaged Equity.Guru Media Inc. ("EG") to initiate and provide marketing and consulting services pursuant to a Marketing Consulting Agreement (the "Agreement") in compliance with the applicable policies of the TSX Venture Exchange.
For the provision of service rendered by EG under the Agreement, the Company will pay EG a fee equal to CAD$13,333 per month. The Agreement will be in effect for a period of three (3) months (the "Initial Term"), and the Company has the ability to extend the Initial Term at its sole option for further six (6) or twelve (12) month extensions thereafter. If the Company doesn't exercise its option to extend the Agreement after expiration of the Initial Term, the Agreement terminates.
EG does not have any interest, directly or indirectly, in the Company, will not receive common shares or options as compensation, and does not have any present intention to acquire any securities of the Company aside from as is necessary to perform its obligations under the Agreement.
EG is a stock market investment information outlet, with its head office located at 200-1281 W Georgia St, Vancouver, British Columbia V6E 3J7.
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 is located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced preliminary economic assessment technical report prepared by SRK in accordance with the National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154602
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West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce that its board of directors approved and authorized the grant of 1,748,000 stock options (the "Options") to various directors and consultants of the Company effective February 3, 2023. The Options were granted in accordance with the terms of the stock option plan of the Company. All of the Options vested on their date of grant. One (1) Option entitles the holder thereof to purchase one (1) common share of the Company (each a "Share" and collectively, the "Shares") at a price of CAD$0.45 per Share for a period of five (5) years from the Option grant date. The exercise price of the Options was set as the closing trading price of the Shares on the Option grant date.
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 preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153671
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West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce the confirmation of additional high-grade gold assays (see Tables 1 and 2) and to provide a status update from its 6,000 metre exploration drilling program initiated in 2022 at its Midnight gold claim ("Midnight") located in Rossland, British Columbia (the "2022 Drilling Program"). The Rossland Gold Camp historically produced over 2.76 million ounces of recovered gold and 3.52 million ounces of recovered silver.
HIGHLIGHTS
"We recently received the balance of the outstanding 2022 assay data which was focused specifically on the gold content. The Company intersected more structurally-controlled mineralization in high-grade assay intervals such as those in MN22-13 northwest and MN22-18 southwest of the central Midnight mineralization along the broad northeast trend of listwanite replacement and the high-grade Baker Vein. Assays using gravimetric protocols verified significant grades up to 32.5 g/t gold ("Au") in intervals from 85 cm and composite intervals to 6 metres (see Tables 1 and 2)," stated Greg Davison, P.Geo and the Company's internal qualified person (the "Qualified Person" or "QP") for Midnight. "We look forward to completing the assay sampling of seventeen (17) remaining holes in the 2023 Midnight drilling program," Mr. Davison further noted.
The 2022 Drilling Program was completed and closed for the winter season on November 15, 2022 at Midnight (see Figure 1). A total of 6,191 metres were completed (see Table 3) during the course of the 2022 Drilling Program.
Figure 1 shows the distribution and status of the 2022 permitted and active drill collar locations relative to the Company's drilling activity from 2006 through to 2010. Assays received from 2,856 core and QA/QC samples are reported for twenty-three (23) completed holes and one partially sampled hole (see Tables 1 and 2). Seventeen (17) holes, currently with 693 samples and QAQC insertions, await core cutting and sampling in the spring 2023 program. Geological compilation and Leapfrog modelling of the current and historical drill and geological results is ongoing. Final LiDAR bare-earth maps are pending receipt in February 2023.
Figure 1. Location map of 2022 and post-2000 historical drilling on Midnight, IXL and OK mining claims and grants with mine portals and access trails. Current drilling completed at OK South and Upper Portal, IXL Upper and Lower Adit, and Midnight 3100 and 3200 Portals SSW of the Italian Tunnel. Sampling pending (purple) for 17 holes.
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https://images.newsfilecorp.com/files/5602/153127_5351f65ad429cb3e_002full.jpg
Table 1. Summary of recent 2022 drill core intersections with 2 gram-plus Au g/t values. Samples >10 g/t Au were finished using gravimetric analysis and/or screen metallics (highlighted).
| Hole # | Sample # | From (m) | To (m) | Au g/t* | Ag g/t |
| MN22-13 | 228697 | 262.50 | 263.35 | 32.5* | NA |
| MN22-13 | 228767 | 420.00 | 421.50 | 2.22 | NA |
| MN22-13 | 228775 | 430.50 | 432.00 | 2.03 | NA |
| MN22-17 | 228372 | 98.5 | 100 | 3.24 | NA |
| MN22-18 | 229445 | 41.00 | 42.50 | 2.36 | NA |
| MN22-18 | 229446 | 42.50 | 44.00 | 9.51 | NA |
| MN22-18 | 229447 | 44.00 | 45.50 | 6.52 | NA |
| MN22-18 | 229448 | 45.50 | 47.00 | 13.55* | NA |
| MN22-20 | 229435 | 108.00 | 109.00 | 4.89 | NA |
| MN22-20 | 229436 | 108.00 | 109.00 | 4.33 | NA |
* Au GRA-21 FAA with gravimetric analysis for samples >10 g/t boldface type indicates preparation duplicate splits
Table 2. Summary of previously reported 2022 drill core intersections with 4 gram-plus Au g/t values. Samples greater than 10 g/t Au were finished using gravimetric analysis and/or screen metallics (highlighted).
| Hole # | Sample # | From (m) | To (m) | Au g/t* | Ag g/t |
| MN22-02 | 212571 | 48.50 | 50.00 | 36.1* | 3.7 |
| 212583 | 65.00 | 66.50 | 7.94 | 1.4 | |
| 212584 | 66.50 | 68.00 | 17.9* | 9.6 | |
| 212585 | 68.00 | 69.50 | 8.61 | 2.3 | |
| 212587 | 69.50 | 71.00 | 22.6* | 31.2 | |
| MN22-03 | 212605 | 39.10 | 41.50 | 12.15* | 2.1 |
| 212606 | 39.10 | 41.50 | 13.6* | 1.6 | |
| 212621 | 60.00 | 61.50 | 20.7* | 6 | |
| MN22-04 | 225511 | 54.05 | 55.25 | 38.4* | 6.5 |
| MN22-05 | 225662 | 54.50 | 54.75 | 4.59 | 1.2 |
| 225664 | 55.65 | 57.15 | 8.44 | 1.9 | |
| 225666 | 58.65 | 60.15 | 15.7* | 2.9 | |
| 225667 | 60.15 | 61.65 | 14.3* | 1.6 | |
| 225674 | 68.40 | 69.45 | 33.7* | 3.5 | |
| 225677 | 69.95 | 70.25 | 311** | 94.9 | |
| 225681 | 70.25 | 71.30 | 4.37 | 4 | |
| MN22-07 | 225845 | 44.25 | 45.30 | 5.39 | 3.8 |
| MN22-08 | 229012 | 38.70 | 39.40 | 15.85* | 2.5 |
| 229013 | 39.40 | 40.10 | 6.88 | 1.9 | |
| MN22-09 | 229333 | 106.95 | 108.45 | 7.23 | NA |
| MN22-09 | 229335 | 205.10 | 206.60 | 37.9* | 3 |
| MN22-13 | 228558 | 72.35 | 72.65 | 154** | NA |
| 228657 | 185.70 | 186.20 | 21.4** | NA |
* Au GRA-21 FAA with gravimetric analysis for samples >10 g/t
** SCR24-B screen metallics, Au-AA26 FAA for samples with visible gold
2022 Exploration Summary
The 2022 Drilling Program was focused on identifying extensions to zones of known Midnight mineralization, areas with potential within and peripheral to the OK and IXL historical mines, and deep targets below the known footprint of mineralization (Figure 1). A total of 31 collar locations are fully permitted for the current program.
The drilling under the 2022 Drilling Program initially collared around the Midnight mine workings on targets from surface to 200 metres depth located to the southeast, east and north of the historical high-grade Baker Vein. These geological targets occurred within and peripheral to the Listwanite (quartz-carbonate-serpentine) zone which straddles the east-northeast trending fault contact between the OK ultramafic intrusion and the Jurassic-age andesite-dominant sequence to the north.
West High Yield brought in a second and third drill to expand the area of immediate interest outside the Midnight-Baker targets and to explore additional and deeper targets from 200 metres to more than 600 metres transecting the andesite-ultramafic contact and below the Baker Vein from the Midnight and neighbouring IXL claims.
The additional drills also targeted high-grade polymetallic Au-Ag-Cu-Pb, massive to stockwork-style silicified andesite-hosted mineralization with pyrrhotite and pyrite reported and observed from the OK Mine area historical drilling and is located between the OK Portal and the Upper Raise on the OK claim 50m east of the Cascade Highway.
Table 3. 2022 Midnight Drilling Program.
| Hole # | Easting | Northing | Azimuth (°) | Inclination (°) | Elevation (m) | Total Depth (m) |
| 22-01 | 438580 | 5435911 | 0 | -90 | 960 | 352.6 |
| 22-02 | 438537 | 5435808 | 350 | -50 | 943 | 81.7 |
| 22-03 | 438537 | 5435808 | 350 | -75 | 943 | 197.5 |
| 22-04 | 438531 | 5435792 | 295 | -68 | 942 | 185 |
| 22-05 | 438531 | 5435792 | 260 | -50 | 942 | 113.4 |
| 22-06 | 438531 | 5435792 | 260 | -70 | 942 | 139.8 |
| 22-07 | 438548 | 5435881 | 270 | -50 | 962 | 245 |
| 22-08 | 438561 | 5435855 | 260 | -75 | 956 | 277 |
| 22-09 | 438548 | 5435881 | 235 | -50 | 962 | 242 |
| 22-10 | 438548 | 5435881 | 295 | -50 | 962 | 158 |
| 22-11 | 438548 | 5435881 | 295 | -70 | 962 | 218 |
| 22-12 | 438277 | 5435786 | 11 | -50 | 1038 | 230 |
| 22-13 | 438443 | 5435828 | 220 | -75 | 985 | 510.2 |
| 22-14 | 438580 | 5435911 | 180 | -60 | 960 | 132.4 |
| 22-15 | 438291 | 5435798 | 11 | -50 | 1051 | 35 |
| 22-16 | 438291 | 5435798 | 340 | -50 | 1051 | 209 |
| 22-17 | 438291 | 5435798 | 340 | -70 | 1051 | 227 |
| 22-18 | 438461 | 5435739 | 340 | -50 | 970 | 207 |
| 22-19A | 438461 | 5435739 | 320 | -50 | 970 | 21 |
| 22-19B | 438461 | 5435739 | 290 | -50 | 970 | 153 |
| 22-20 | 438608 | 5435933 | 180 | -60 | 960 | 117.6 |
| 22-21 | 438306 | 5435835 | 345 | -50 | 1044 | 230 |
| 22-22 | 438375 | 5435710 | 330 | -50 | 986 | 171 |
| 22-23A | 438306 | 5435835 | 11 | -60 | 1044 | 33 |
| 22-23B | 438306 | 5435835 | 20 | -60 | 1044 | 32 |
| 22-24 | 438375 | 5435710 | 330 | -70 | 986 | 152.1 |
| 22-25 | 438375 | 5435710 | 345 | -60 | 986 | 141 |
| 22-26 | 438443 | 5435828 | 220 | -60 | 985 | 192 |
| 22-27A | 438551 | 5435796 | 260 | -50 | 940 | 19.8 |
| 22-27B | 438551 | 5435796 | 260 | -50 | 940 | 43.4 |
| 22-28 | 438608 | 5435933 | 220 | -50 | 960 | 124.35 |
| 22-29 | 438443 | 5435828 | 190 | -60 | 985 | 96.45 |
| 22-30 | 438551 | 5435796 | 345 | -50 | 940 | 26 |
| 22-31 | 438443 | 5435828 | 240 | -60 | 985 | 210 |
| 22-32 | 438449 | 5435889 | 185 | -60 | 996 | 25.5 |
| 22-33 | 438463 | 5435866 | 220 | -50 | 975 | 51 |
| 22-33B | 438463 | 5435866 | 220 | -60 | 975 | 72 |
| 22-34 | 438449 | 5435889 | 220 | -60 | 996 | 228 |
| 22-35 | 438608 | 5435933 | 220 | -70 | 960 | 124.35 |
| 22-36 | 438548 | 5435881 | 220 | -60 | 962 | 142.5 |
| 22-37 | 438449 | 5435889 | 35 | -60 | 996 | 24 |
The high-grade gold intersections occurred mainly within variably deformed and serpentinized peridotite showing moderate to pervasive quartz-serpentine-carbonate replacement transected by discrete quartz-dominant veins to 50cm and sets of
Coarse-grained pyrrhotite and polymetallic base metal sulphides (Pb, Cu, Mo), typically in vein arrays and breccias, was reported from the hanging wall andesite and basalt flows though gold showed limited values outside the contact zone with the north-easterly alteration trend.
Leapfrog compilation with 2D and 3D mapping, of current and historical drilling and underground workings, and recently-received high-resolution LiDAR orthophoto and bare-earth topographic control, will be used to evaluate structural features and geospatial significance of broad alteration, sulphidation and lithological controls in the mineralizing system.
Geochemical Analysis, Quality Assurance and Quality Control
All core handling was conducted at the secure logging facility on Midnight. All samples were bagged and sealed with numbered security tags under the supervision of the QP and delivered to Overland Transport in Rossland for delivery to ALS Global ("ALS") in North Vancouver, British Columbia for gold and multi-element analysis. ALS is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada. Metal values disclosed herein are reported principally from sawn (1/2) drill core samples over intervals of 30cm to 1.6 metres. Certain friable and broken intervals were processed using a rotary wedge core splitter. The remaining half-core samples are cross stacked on site. Local chain of custody was monitored and maintained directly by the QP and Project Geologist under the direction of the QP.
The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA23). The retained pulps also were analyzed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61). Over-limit Au and Ag samples were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Screen metallics assays were conducted on select ½ core samples to quantify gold distribution in the screen oversize (SCR-24B) and duplicate 50-gram pulps of the screen undersize (Au-GRA22). One 30cm sample of broken core with visible gold was sampled in its entirety through the SCR-24B protocol.
In-house quality control samples (blanks, standards, preparation duplicates) were inserted into the sample set using a protocol designed by the QP. ALS Global conducted its own internal QA/QC program of blanks, standards and duplicates, and the results are provided with the Company sample certificates. The results of the internal and ALS control samples were reviewed by the Company's QP and evaluated for acceptable tolerances prior to disclosure. All sample and pulp rejects are stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.
The Company's Qualified Person believes that the sampling documentation, analytical protocols and quantitative data will withstand scrutiny for inclusion.
Qualified Person
Greg Davison, MSc, PGeo, Senior Consulting Geologist to West High Yield, is the Company's Qualified Person for Midnight and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, under TSX Venture Exchange guidelines.
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 preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153127
News Provided by Newsfile via QuoteMedia
TSX VENTURE COMPANIES
F3 URANIUM CORP. ("FUU ")
[Formerly FISSION 3.0 CORP. ("FUU ")]
BULLETIN TYPE: Name Change
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
Pursuant to a resolution passed by the Directors of the Company on January 23, 2023 , the Company has changed its name as follows. There is no consolidation of capital.
Effective at the opening Tuesday, January 31, 2023 , the common shares of F3 Uranium Corp. will commence trading on TSX Venture Exchange, and the common shares of Fission 3.0 Corp. will be delisted. The Company is classified as a 'Mining' company.
Capitalization: | Unlimited shares with no par value of which |
331,650,990 shares are issued and outstanding | |
Escrow: | Nil shares |
Transfer Agent: | Computershare Investor Services Inc. |
Trading Symbol: | FUU ( Unchanged ) |
CUSIP Number: | 30330R108 ( New ) |
________________________________________
NEX COMPANIES:
DISTRICT MINES LTD. ("DIG.H ")
BULLETIN TYPE: Plan of Arrangement - Correction, Notice of Distribution, Resume Trading
BULLETIN DATE: January 27, 2023
NEX Company
Further to the TSX Venture Exchange bulletin dated January 25, 2023 , the bulletin should have read as follows:
The Plan of Arrangement has been approved by District Mines Ltd. ("District Mines") shareholders and received final approval by the Supreme Court of British Columbia on January 10, 2023 , and has resulted in shareholders of District Mines now holding common shares in the SubCo's: 1355379 B .C. Ltd., 1355381 B .C. Ltd., and 1355384 B .C. Ltd. each on a 1 for 1 basis.
Notice of Distribution
The Issuer has declared the following dividend:
Distribution per Common Share: | 1 share each of 1355379 B.C. Ltd., 1355381 B.C. Ltd. and 1355384 B.C. Ltd. per issuer share held |
Payable Date: | February 2, 2023 |
Record Date: | February 1, 2023 |
Due Bill Ex-Distribution Date: | February 3, 2023 |
Due Bill Trading Period: | January 31, 2023 to February 2, 2023 |
Resume Trading
Effective at market open on Wednesday February 8, 2023 , the Company's shares will resume trading.
For further information, please refer to the Company's news releases dated September 16, 2022 , January 10, 2023 , January 25, 2023 and January 27, 2023 .
________________________________________
OTSO GOLD CORP. ("OTSO.H")
BULLETIN TYPE: Delist
BULLETIN DATE: January 27, 2023
NEX Company
Effective at the close of business on Tuesday, January 31, 2023 , the common shares of the Company will be delisted for failure to maintain Exchange Requirements.
Prior to the delisting, the common shares of the Company were subject to a suspension in trading.
____________________________________
23/01/27 - TSX Venture Exchange Bulletins
TSX VENTURE COMPANIES
ADVENTUS MINING CORPORATION ("ADZN ")
BULLETIN TYPE: Prospectus-Share Offering
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
Effective January 27, 2023 , the Company's Bought Deal Offering filed pursuant to the Prospectus Supplement dated January 13, 2023 , to the Short Form Base Shelf Prospectus dated August 25 , 2022, was filed with and accepted by TSX Venture Exchange. The Base Shelf Prospectus was filed with the British Columbia Securities Commission and the authorities of Alberta, Ontario , New Brunswick , Newfoundland , and Labrador .
TSX Venture Exchange has been advised that closing occurred on January 18, 2023 , for gross proceeds of $6,899,999.60 .
Offering: | 13,269,230 common shares |
Share Price: | $0.52 per share |
Agents' Commission: | 6% cash - $413,999.98 |
Greenshoe Option: | The Agent exercised the 15% over-allotment option in the amount of 1,730,769 shares in connection with this offering. |
________________________________________
ADYTON RESOURCES CORPORATION ("ADY ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on December 1, 2022 :
Number of Shares: | 20,000,000 shares |
Purchase Price: | $0.02 per share |
Number of Placees: | 11 placees |
Insider / Pro Group Participation: | ||
Placees | # of Placee (s) | Aggregate # of Shares |
Aggregate Existing Insider Involvement: | 3 | 10,998,000 |
Aggregate Pro Group Involvement: | N/A | N/A |
Aggregate Cash Amount | Aggregate # of Shares | Aggregate # of Warrants | |
Finder's Fee: | N/A | N/A | N/A |
The Company issued a news release on January 25, 2023 confirming the closing of the private placement.
________________________________________
BUILDERS CAPITAL MORTGAGE CORP. ("BCF")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on January 26, 2023 :
Number of Shares: | 10,752 shares |
Purchase Price: | $9.30 per share |
Number of Placees: | 1 placee |
The Company issued a news release on January 26, 2023 confirming closing of the private placement.
________________________________________
GEOMEGA RESOURCES INC. ("GMA ")
BULLETIN TYPE: Halt
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
Effective at 10:14 a.m. PST, Jan. 27, 2023 , trading in the shares of the Company was halted, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada , the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
________________________________________
GEOMEGA RESOURCES INC. ("GMA ")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
Effective at 11:45 a.m. PST, Jan.27, 2023, shares of the Company resumed trading, an announcement having been made.
________________________________________
MARTELLO TECHNOLOGIES GROUP INC. ("MTLO ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 16, 2022 :
Number of Shares: | 54,000,000 common shares |
Purchase Price: | $0.05 per share |
Number of Placees: | 1 Placee |
Insider / Pro Group Participation:
Name | Insider=Y / ProGroup=P | Number of Shares |
Aggregate Insider Involvement [1 Placee] | Y | 54,000,000 |
The Company issued a news release on January 23, 2023 confirming closing of the private placement.
________________________________________
MINERAL MOUNTAIN RESOURCES LTD. ("MMV")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on August 2, 2022 :
Number of Shares: | 4,288,439 shares |
Purchase Price: | $0.07 per share |
Warrants: | 4,288,439 share purchase warrants to purchase 4,288,439 shares |
Warrant Exercise Price: | $0.15 for a period of 6 months |
Number of Placees: | 14 placees |
Insider / Pro Group Participation:
Placees | # of Placee (s) | Aggregate # of Shares |
Aggregate Existing Insider Involvement: | 3 | 760,000 |
Aggregate Cash Amount | Aggregate # of Shares | Aggregate # of Warrants | |
Finder's Fee: | $8,119.30 | N/A | N/A |
The Company issued news releases on August 24, 2022, September 1, 2022 , and January 23, 2023 , confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
NUGEN MEDICAL DEVICES INC. ("NGMD ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced January 26, 2023 :
Number of Shares: | 2,500,000 common shares |
Purchase Price: | $0.05 per common share |
Warrants: | 2,500,000 share purchase warrants to purchase 2,500,000 shares |
Warrant Exercise Price: | $0.05 for a period of five years |
Number of Placees: | 1 Placee |
For further information, please refer to the Company's news release dated January 26, 2023 .
_______________________________________
OLIVE RESOURCE CAPITAL INC. ("OC ")
BULLETIN TYPE: Shares for Services
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 1,000,000 shares at a deemed price of $0.04 , in consideration of certain services provided by a former officer to the company pursuant to an employment and subsequent settlement agreement.
Number of Service Providers: 1
Non-Arm's Length Party / Pro Group Participation: Nil
For more information, please refer to the Company's news release dated January 18, 2023 . The Company shall issue another news release when the shares are issued and the debt extinguished.
________________________________________
PLURILOCK SECURITY INC. ("PLUR ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on December 02, 2022 :
Number of Shares: | 12,536,538 Units |
Purchase Price: | $0.14 per unit |
Warrants: | 12,536,538 common share purchase warrants ("Warrants") to purchase 12,536,538 common shares of the company. |
Warrant Exercise Price: | $0.25 for a two-year period. |
Number of Placees: | 122 placees |
Insider / Pro Group Participation: | |||
Name | # of Placee (s) | # of Securities | |
Aggregate Existing Insider Group Involvement | 5 | 571,426 Common Shares, | |
Aggregate Pro Group Involvement | 9 | 1,115,000 Common Shares, | |
Finder's Fee: | Aggregate Cash | Aggregate # | Aggregate # |
Aggregate Finder's Fees | $ 78,434.12 | N/A | 634,743 |
Finder's Warrants Terms: | Each finder's warrant entitles the holder to purchase one Common Share at the price of $ 0.14 for period of 2 years from the date of issuance. | ||
Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the Company issued a news releases on December 22, 2022 , January 03, 2023 and January 17, 2023 , announcing the closing of each tranche of the private placement and setting out the expiry dates of the hold period(s).
________________________________________
PROSPER GOLD CORP. ("PGX ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on November 2, 2022 , and November 18, 2022 :
Number of Shares: | 4,000,000 Flow-through shares |
Purchase Price: | $0.25 per share |
Warrants: | 2,000,000 share purchase warrants to purchase 2,000,000 shares |
Warrant Exercise Price: | $0.30 for a two year period |
Number of Shares: | 3,455,000 Non Flow-through shares |
Purchase Price: | $0.20 per share |
Warrants: | 3,455,000 share purchase warrants to purchase 3,455,000 shares |
Warrant Exercise Price: | $0.30 for a two year period |
Number of Placees: | 29 placees |
Insider / Pro Group Participation: | ||
Placees | # of Placee (s) | Aggregate # of Shares |
Aggregate Existing Insider Involvement: | 2 | 365,000 |
Aggregate Pro Group Involvement: | 3 | 187,500 |
Aggregate Cash Amount | Aggregate # of Shares | Aggregate # of Warrants | |
Finder's Fee: | $85,300 | N/A | 374,550 |
Finder's Warrants Terms: Each warrant entitles the holder to purchase one common share at the price of $0 .30 for period of 2 years from the date of issuance.
The Company issued news releases on November 2, 2022 , and November 18, 2022 , confirming closing of the private placement. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]
________________________________________
REVIVAL GOLD INC. ("RVG ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 15, 2022 :
Number of Shares: | 5,000,000 common shares |
Purchase Price: | $0.60 per common share |
Warrants: | 2,500,000 share purchase warrants to purchase 2,500,000 shares |
Warrant Exercise Price: | $0.80 for a period of two years |
Number of Placees: | 24 Placees |
Insider / Pro Group Participation:
Name | Insider=Y / Pro Group=P | Number of Shares |
Aggregate Insider Involvement [4 Placees] | Y | 230,666 |
Aggregate Pro Group Involvement [2 Placees] | P | 300,000 |
Aggregate Cash Amount | Aggregate # of Shares | Aggregate # of Warrants | |
Finder's Fee: | $28,368 | N/A | 47,280 |
Finder's Warrants Terms: Each warrant entitles the holder to purchase one common share at the price of $0.60 for period of two (2) years from the date of issuance.
The Company issued a news release on December 29, 2022 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
SPARTON RESOURCES INC. ("SRI ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on December 01, 2022 :
Number of Shares: | 1,100,000 flow-through common shares |
Purchase Price: | $0.08 per share |
Warrants: | 550,000 share purchase warrants to purchase 550,000 shares |
Warrant Exercise Price: | $0.12 until December 30, 2024 |
Number of Placees: | 5 placees |
Insider / Pro Group Participation: | ||
Placees | # of Placee (s) | Aggregate # of Shares |
Aggregate Existing Insider Involvement: | N/A | N/A |
Aggregate Pro Group Involvement: | N/A | N/A |
Aggregate Cash Amount | Aggregate # of Shares | Aggregate # of Warrants | |
Finder's Fee: | N/A | N/A | N/A |
The Company issued a news release on December 30, 2022 and January 23, 2023 , confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
TSODILO RESOURCES LIMITED ("TSD ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced January 23, 2023 :
Number of Shares: | 2,500,941 common shares |
Purchase Price: | $0.20 per common share |
Warrants: | 2,500,941 share purchase warrants to purchase 2,500,941 shares |
Warrant Exercise Price: | USD$0.20 ($0.27) for a period of two years |
Number of Placees: | 16 Placees |
Insider / Pro Group Participation:
Name | Insider=Y / Pro Group=P | Number of Shares |
Aggregate Insider Involvement [1 Placee] | Y | 100,000 |
The Company issued a news release on January 25, 2023 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
________________________________________
West High Yield (W.H.Y.) RESOURCES LTD. ("WHY")
BULLETIN TYPE: Private Placement – Brokered
BULLETIN DATE: January 27, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced December 13, 2022 :
Number of Shares: | 1,570,000 Flow-Through Units ("FT Units"). Each FT Unit consists of one flow-through common share and one-half of one common share purchase warrant ("FT Warrant"). |
868,054 common share units ("Units"). Each Unit consists of one common share and one common share purchase warrant ("Warrant"). | |
Purchase Price: | $0.50 per FT Unit and $0.42 per Unit. |
Warrants: | 785,000 FT Warrants to purchase 785,000 common shares |
868,054 Warrants to purchase 868,054 common shares | |
Warrant Price: | FT Warrants exercisable at $0.70 per common share for an 18 month period |
Warrants exercisable at $0.70 per common share for a two year period | |
Number of Placees: | 12 placees |
Insider / Pro Group Participation: | ||
Placees | # of Placee (s) | Aggregate # of Units |
Aggregate Existing Insider Involvement: | N/A | N/A |
Aggregate Pro Group Involvement: | N/A | N/A |
Aggregate Cash Amount | Aggregate # of Shares | Aggregate # of Warrants | |
Finder's Fee: | $55,056 | N/A | 113,942 |
Finder's Warrants Terms: Each Finder's Warrant (non-transferable) entitles the holder to purchase one Common Share at the price of $0.70 for a period of 2 years from the date of issuance.
The Company issued a news release on December 23, 2022 , January 18, 2023 and January 26 , 2023 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
__________________________________
SOURCE TSX Venture Exchange
View original content: http://www.newswire.ca/en/releases/archive/January2023/27/c5969.html
News Provided by Canada Newswire via QuoteMedia
West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce, further to its news releases of December 13, 2022 and December 22, 2022, that it has closed the second tranche (the "Closing") of its previously announced private placement offering (the "Offering") of ordinary units of the Company (the "Units").
The Closing consisted of the issuance of 309,530 Units for gross proceeds of $130,002.60. The Units were issued at a price of $0.42 per Unit. Each Unit consists of one (1) Common share of the Company (each, a "Common Share") and one (1) Common Share purchase warrant (each, a "Warrant"). Each Warrant, together with CAD$0.70, entitles the holder thereof to acquire one (1) additional Common Share until January 18, 2025. All securities issued in connection with the Closing are subject to a statutory hold period in accordance with applicable securities legislation ending on May 19, 2023.
The proceeds from the issuance of the Units will be used for the Company's general working capital purposes and expenses.
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 preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151759
News Provided by Newsfile via QuoteMedia
West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce, further to its news release of December 13, 2022, that it has closed the first tranche (the "Closing") of both of its previously announced private placement offerings (the "Offerings") of flow-through units of the Company (the "Flow-Through Units") and ordinary units of the Company (the "Ordinary Units" and together with the Flow-Through Units, the "Units"). The Flow-Through Units were issued at a price of $0.50 per Flow-Through Unit and the Ordinary Units were issued at a price of $0.42 per Ordinary Unit.
Each Flow-Through Unit consists of one (1) Common share of the Company (each, a "Common Share") issued on a "flow-through basis" under the Income Tax Act (Canada) (the "Act") and one half (1/2) of one (1) Common Share purchase warrant (each, a "Flow-Through Warrant"). Each Flow-Through Warrant, together with CAD$0.70, entitles the holder thereof to acquire one (1) additional Common Share until June 22, 2024. Each Standard Unit consists of one (1) Common Share and one (1) Common Share purchase warrant (each, a "StandardWarrant"). Each Standard Warrant, together with CAD$0.70, entitles the holder thereof to acquire one (1) additional Common Share until December 23, 2024.
The Closing consisted of the issuance of 1,570,00 Flow-Through Units for gross proceeds of $785,000 and 399,000 Ordinary Units for gross proceeds of $167,580, representing aggregate gross proceeds of $952,580. In connection with the Closing, the Company issued 113,942 non-transferable share purchase warrants (the "Broker Warrants") to and as directed by GloRes Securities Inc. (the "Broker"), equal to 6% of the number of Units issued under the Closing to subscribers introduced by the Broker, and is required to pay the Broker a cash commission of $55,056, being 6% of the aggregate proceeds from the number of Units sold under the Closing to subscribers introduced by the Broker. The Broker Warrants have identical terms to the Standard Warrants. All securities issued in connection with the Closing are subject to a statutory hold period in accordance with applicable securities legislation ending on April 23, 2023.
The proceeds from the issuance of the Flow-Through Units will be used to incur eligible "Canadian exploration expenses" and "Canadian development expenses", as both terms are defined in the Act, that qualify as "flow-through mining expenditures" related to the Company's Record Ridge magnesium deposit and Midnight gold claim. The proceeds from the issuance of the Standard Units will be used for general working capital purposes and expenses.
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 preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@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.
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