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

Rhea-AI Summary

West High Yield Resources (WHYRF) completed the final tranche of its previously announced private placement of units. The last closing comprised 300,000 Units at $0.30 each for gross proceeds of $90,000. Each Unit includes one common share and one-half common share purchase warrant, with each full warrant exercisable at $0.45 for 12 months.

In total, the Offering comprised 4,423,000 Units for aggregate gross proceeds of $1,326,900. A finder received $1,800 in cash and 6,000 finder’s warrants. TSX Venture Exchange final approval is pending. Proceeds are designated for essential operations and general working capital.

Positive

• 4,423,000 Units issued for total gross proceeds of $1,326,900
• Final tranche adds $90,000 in cash at $0.30 per Unit
• Warrants exercisable at $0.45 could provide additional capital within 12 months

Negative

• Issuance of 4,423,000 new shares plus warrants creates equity dilution
• Offering completion still subject to TSX Venture Exchange final approval

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Calgary, Alberta--(Newsfile Corp. - July 31, 2026) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (FSE: W0H) (the "Company" or "West High Yield") announces that, further to its news releases dated May 21, 20226, June 11, 2026 and June 24, 2026, it is closing the final tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units").

The Closing

The Closing consisted of the issuance 300,000 Units for gross proceeds of $90,000. The Units were issued at a price of $0.30 per Unit, with each Unit consisting of one (1) Common share of the Company (each, a "Common Share") and one half (1/2) of one (1) Common Share purchase warrant (each, a "Warrant"). Each full Warrant, together with CAD$0.45, entitles the holder thereof to acquire one (1) additional Common Share for twelve (12) months from the date of the Closing.

The Offering

After completion of the Closing, the Company confirms that it issued a total of 4,423,000 Units for total gross proceeds of $1,326,900.00 under the Offering. 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 Company paid a finder's fee in connection with the Offering to one finder, comprised of: (i) a cash commission of $1,800.00 (being 6% of the gross proceeds of the Offering sourced by said finder); and (ii) 6,000 finder's warrants (the "Finder's Warrants"). The Finder's Warrant will have identical terms to the Warrants.

The acceptance and final approval of the Offering, remain subject to approval by the TSX Venture Exchange (the "TSXV"), which the Company has submitted for as of the date of this news release.

The proceeds from the Closing have been and will be used by the Company to cover essential operations and general working capital purposes and expenses.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company, established in 2003, and 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 is located approximately 10 kilometers southwest of Rossland, British Columbia. Based on the independently prepared National Instrument 43-101 Preliminary Economic Assessment titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada" prepared by SRK Consulting (Canada) Inc. and dated April 18, 2013, the deposit contains a Measured and Indicated mineral resource of 43.0 million tonnes at an average magnesium grade of 24.61%. This corresponds to approximately 10.6 million metric tonnes of contained magnesium. The technical report was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is available under the Company's profile at https://www.sedarplus.ca.

Qualified Person

Rick Walker, B.Sc., M.Sc., P.Geo., the Company Geologist is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.

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/307504

FAQ

What did West High Yield Resources (WHYRF) announce about its private placement on July 31, 2026?

West High Yield Resources announced the final closing of its private placement, issuing a total of 4,423,000 Units for gross proceeds of $1,326,900. According to West High Yield, each Unit includes one common share and half a warrant exercisable at $0.45 for 12 months.

How many units and how much cash were raised in the final tranche of WHYRF’s private placement?

The final tranche consisted of 300,000 Units at $0.30 per Unit, raising $90,000 in gross proceeds. According to West High Yield, these units complete the previously announced offering and carry the same share and warrant structure as earlier tranches.

What are the warrant terms in West High Yield Resources (WHYRF) July 2026 private placement?

Each Unit includes half a warrant, with each full warrant exercisable at $0.45 for 12 months from closing. According to West High Yield, exercising a full warrant allows the holder to acquire one additional common share within that one-year period.

How will West High Yield Resources use the proceeds from its WHYRF private placement?

West High Yield plans to use proceeds to fund essential operations and general working capital needs. According to West High Yield, the capital from the $1,326,900 offering is intended to support ongoing corporate expenses and core business activities, rather than a specific new project.

Is the July 31, 2026 WHYRF private placement approved by the TSX Venture Exchange?

Final TSX Venture Exchange approval for the offering was still pending as of July 31, 2026. According to West High Yield, it has submitted the required materials, and acceptance and final approval remain subject to TSXV review and confirmation.

What finder’s fees were paid in West High Yield Resources’ July 2026 private placement (WHYRF)?

West High Yield paid one finder a cash commission of $1,800 and issued 6,000 finder’s warrants. According to West High Yield, these finder’s warrants have the same terms as the investor warrants, including the $0.45 exercise price and 12‑month term.

How does the July 2026 private placement affect West High Yield Resources’ share count?

The company issued 4,423,000 new common shares through the Units, increasing its outstanding equity. According to West High Yield, each Unit includes one share, and additional shares may be issued if investors exercise attached warrants within 12 months.