West High Yield (W.H.Y.) Resources Ltd. Announces Signing of Services Agreement and Termination of Market-Making Agreement
Calgary, Alberta--(Newsfile Corp. - November 30, 2022) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce that it has engaged Red Cloud Securities Inc. ("RCSI") to initiate and provide market stabilization and liquidity related services pursuant to a Letter Agreement (the "Agreement") in compliance with the applicable policies of the TSX Venture Exchange.
For the provision of services by RCSI under the Agreement, the Company has agreed to pay RCSI a service fee equal to CAD$5,000 per month. The Agreement shall be in effect for an indefinite timeframe, unless and/or until earlier terminated by either the Company or RCSI on thirty (30) days written notice to the other. RCSI 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.
RCSI is a global mining investment bank providing extensive coverage to explorers, developers, and junior producers. RCSI head office is located at 120 Adelaide St W Suite 1400, Toronto, Ontario, M5H 1T1.
Termination of Market Making Agreement
The Company also announces that it has effectively terminated the market making-agreement with Independent Trading Group, originally announced on October 27, 2021, said termination taking effect as of November 30, 2022.
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.
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
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.
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