West High Yield Resources Ltd. has announced the exercise of its share purchase warrants, part of a strategy to strengthen its financial position and support operational objectives. The company trades under the ticker TSXV: WHY and OTC: WHYRF, and plans to use the funds for mineral exploration and development projects.
Three warrant holders have exercised their warrants, resulting in the issuance of a significant number of common shares. In total, 570,000 warrants were exercised at a price of CAD$0.30 each, generating CAD$171,000 for the company. Furthermore, another holder exercised 43,478 warrants at CAD$0.35 each, contributing an additional CAD$15,217.30.
Financial impact of warrant exercises
The total from both warrant exercises amounts to CAD$186,217.30, enhancing West High Yield Resources’ capital base. This capital is essential for the company’s plans to develop its Record Ridge critical mineral deposit, known for its substantial reserves of magnesium, silica, and nickel.
Strategic use of funds
The proceeds from these warrant exercises will be allocated to the exploration and development of the Record Ridge project. Located approximately 10 kilometers southwest of Rossland, British Columbia, this deposit is estimated to contain around 10.6 million tonnes of magnesium, according to an independent National Instrument 43-101 evaluation.
This critical mineral deposit not only serves as a valuable resource but also reflects the company’s commitment to sustainable mining practices. By implementing green processing techniques, West High Yield aims to reduce waste and lower its CO2 emissions, contributing to environmental conservation.
About West High Yield Resources Ltd.
West High Yield Resources is a junior mining exploration and development company publicly traded on various stock exchanges. Its primary focus is on acquiring, exploring, and developing mineral resource properties across Canada. The company’s dedication to sustainability and responsible mining practices positions it favorably within the industry.
The Record Ridge project represents a key asset, with its Preliminary Economic Assessment prepared by SRK Consulting (Canada) Inc. in April 2013, laying the groundwork for future development plans. This assessment complies with NI 43-101 standards, ensuring the credibility of the resource estimates.
Contact information
For further inquiries or detailed information regarding West High Yield Resources Ltd., interested parties can contact the company’s leadership:
Frank Marasco Jr., President and CEO
Telephone: (403) 660-3488
Email: frank@whyresources.com
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com
Forward-looking statements
Three warrant holders have exercised their warrants, resulting in the issuance of a significant number of common shares. In total, 570,000 warrants were exercised at a price of CAD$0.30 each, generating CAD$171,000 for the company. Furthermore, another holder exercised 43,478 warrants at CAD$0.35 each, contributing an additional CAD$15,217.30.0
Three warrant holders have exercised their warrants, resulting in the issuance of a significant number of common shares. In total, 570,000 warrants were exercised at a price of CAD$0.30 each, generating CAD$171,000 for the company. Furthermore, another holder exercised 43,478 warrants at CAD$0.35 each, contributing an additional CAD$15,217.30.1
Three warrant holders have exercised their warrants, resulting in the issuance of a significant number of common shares. In total, 570,000 warrants were exercised at a price of CAD$0.30 each, generating CAD$171,000 for the company. Furthermore, another holder exercised 43,478 warrants at CAD$0.35 each, contributing an additional CAD$15,217.30.2