Magnesium-Ion Batteries: A Game-Changing Development in Energy Storage

WHY.V     0.31          3.0%      Volume:  139100.0      Bid:  0.3050 x 0      Ask:  0.3100 x 0      Day Range:  0.2900 - 0.3500      Last Updated:  06:00PM
West High Yield announces private placement

CALGARY, ALBERTA–(Marketwire – June 24, 2011) –


West High Yield (W.H.Y.) Resources Ltd. (TSX VENTURE:WHY) (“West High Yield” or the “Company”) is pleased to announce a proposed non-brokered private placement of up to $1,000,000 through the sale of up to 2,500,000 flow-through units (the “Units”) at a price of $0.40 each. Each Unit will consist of one (1) common share (“Common Share”) in the capital of the Corporation issued on a flow-through basis and one (1) common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one Common Share of the Corporation for a period of twenty four (24) months the (“Warrant Exercise Period”) at an exercise price of $0.60 in year 1 and $0.75 in year 2.

A finder’s fee consisting of cash in the amount of 6% of the Units subscribed for and a finder’s fee option (the “Finder’s Fee Option”) in the amount of 8% of the number of Units subscribed for will be paid to an arm’s length third party. The Finder’s Fee Option shall provide for the purchase of units (the “Finder’s Units”) exercisable within a twenty four (24) month period at a price of $0.40 per Finder’s Unit. Each Finder’s Unit will consist of one (1) Common Share and one (1) Warrant (the “Finder’s Warrants”). Each Finder’s Warrant will entitle the holder to purchase one (1) Common Share of the Corporation for a period of twenty four (24) months (the “Finder’s Warrant Exercise Period”) at an exercise price of $0.60 in year 1 and $0.75 in year 2.

The private placement is subject to receipt of all necessary regulatory approvals. The private placement is expected to close on or before June 30, 2011.

The proceeds of the private placement will be used to fund the continued work program on West High Yield’a substantial magnesium resource at its Record Ridge South property near Rossland, B.C. The Company controls approximately 6,134 contiguous hectares of mineral and crown granted claims on its property. The Company has obtained a NI 43-101 Reserve Report prepared by SRK Consulting of Denver, Colorado indicating 9,160,000 gross tonnes of magnesium (7,145,000 tonnes recoverable) on the property. Visit the West High Yield website at for more information about West High Yield.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this news release 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.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.


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.

42,820,394 Common Shares Issued

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 or accuracy of this release.

Contact Information

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
(403) 660-3488
(403) 206-7159 (FAX)
[email protected]

West High Yield (W.H.Y.) Resources Ltd.
Dwayne Vinck
Chief Financial Officer
(403) 257-2637
(403) 206-7159 (FAX)
[email protected]