West High Yield (W.H.Y.) Resources Ltd. Announces Closing of Non-Brokered Private Placement

Rhea-AI Summary

West High Yield (OTC:WHYRF) closed a conditionally approved non-brokered private placement on January 7, 2026, issuing 1,000,000 Units at $0.50 per Unit for gross proceeds of $500,000.

Each Unit comprises one common share and one warrant; each warrant is exercisable for one common share at CAD $0.65 within 12 months of closing. Securities are subject to a four months plus one day hold period. Proceeds will be used for essential operations and general working capital.

The TSX Venture Exchange gave conditional approval on December 30, 2025, and final TSXV approval remains pending.

Positive

• Gross proceeds of $500,000 raised
• Issued 1,000,000 Units to bolster working capital
• Each Unit includes a warrant exercisable within 12 months

Negative

• Final TSXV approval for the Offering is still pending
• Issued warrants exercisable at CAD $0.65 may increase share count if exercised
• All securities subject to a four months plus one day hold period

Calgary, Alberta--(Newsfile Corp. - January 7, 2026) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (FSE: W0H) (the "Company" or "West High Yield") announces that it is closing a single tranche (the "Closing") of a conditionally approved non-brokered private placement offering (the "Offering") of units (the "Units").

The Closing consisted of the issuance of 1,000,000 Units for gross proceeds of $500,000. The Units were issued at a price of $0.50 per Unit, with each Unit consisting 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$0.65, entitles the holder thereof to acquire one (1) additional Common Share for twelve (12) months from the date of the Closing.

All securities comprising the Units issued on the Closing are subject to a trading hold period expiring four months plus one day from the date of issuance. The proceeds from the Closing have been and will be used by the Company to cover essential operations and for general working capital purposes and expenses.

After completion of the Closing, the Company confirms that the Offering has been completed in full. The Company received conditional approval for the Offering from the TSX Venture Exchange (the "TSXV") on December 30, 2025 by way of filing a price reservation form. Final approval of the Offering remains subject to approval by the TSXV, which the Company has submitted for as of the date of this news release.

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 (titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada") prepared by SRK Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101 and which can be found on the Company's profile at https://www.sedarplus.ca.

Contact Information:

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.

Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com

Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@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 TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279735

FAQ

What did West High Yield (WHYRF) announce on January 7, 2026?

The company closed a non-brokered private placement issuing 1,000,000 Units at $0.50 for gross proceeds of $500,000.

What does each Unit issued by West High Yield (WHYRF) include?

Each Unit consists of one common share plus one warrant; each warrant is exercisable for one share at CAD $0.65 for 12 months from closing.

How will West High Yield (WHYRF) use the $500,000 raised?

Proceeds will be used to cover essential operations and for general working capital and expenses.

When does the trading hold on securities from the WHYRF private placement expire?

The securities are subject to a trading hold expiring four months plus one day from the date of issuance.

Has the TSX Venture Exchange fully approved the WHYRF offering?

The TSXV granted conditional approval on December 30, 2025; final approval is still pending as of the closing date.