West High Yield (W.H.Y.) Resources Announces Services Agreement
April 6, 2009
West High Yield (W.H.Y.) Resources Ltd. (TSX VENTURE:WHY) ("West High Yield" or the "Company") announces that it has entered into a Services Agreement with the Company, West High Yield (W.H.Y.) Holdings Ltd. ("Holdings") and Noble Investment Corp. ("Noble") (the "Agreement"), whereby Noble provides investor relations and market-making services to the Company until June 30, 2009. As part of the Agreement, Holdings will lend 200,000 Common Shares of the Company to Noble to be utilized for trading in securities of the Company. Noble has agreed to return any unutilized shares to the Company on June 30, 2009. Noble's compensation for providing the services is $5,000 per month for six months, commencing on January 1, 2009 and the issuance of 120,000 options to purchase Common Shares of the Company at a price of $0.50 per share. 60,000 options will vest on each of March 31 and June 30, 2009 and all options expire on July 30, 2009. Noble's market-making services include correcting temporary imbalances in the supply and demand of the Company's securities, it being understood and acknowledged that the market will be allowed to rise and fall naturally, with the market-making activity operating primarily to smooth out these imbalances and to facilitate an orderly market in accordance with applicable securities laws and the rules of the TSX Venture Exchange. Noble will also assist the Company with various investor relations activities including attending trade shows and coordinating presentations on behalf of the Company.
About West High Yield
West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel, and magnesium properties.
This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
40,830,794 Common Shares Issued
The TSXV has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.