West High Yield (W.H.Y.) Resources Ltd. Announces Proceeds From Exercise of Options
WEST HIGH YIELD RESOURCES LTD. ANNOUNCES PROCEEDS FROM EXERCISE OF OPTIONS
West High Yield (W.H.Y.) Resources Ltd. (the Company) is pleased to announce that it has received proceeds of $1,300,000 from the exercise of 650,000 stock options at a price of $2.00 per share. The exercised options represented approximately 1.7% of the outstanding shares of the Company. The proceeds from the exercise of these options will be used to fund the Company’s ongoing exploration and development activities in its magnesium deposit located in southern British Columbia.
The exercise of these options demonstrates the confidence that investors have in the potential of West High Yield Resources Ltd. and its magnesium deposit. The Company’s magnesium deposit is considered one of the highest-grade and largest in the world, with a measured and indicated resource of over 500 million tonnes grading at 23.8% magnesium oxide.
This recent influx of funds will enable the Company to advance its exploration and development activities in the magnesium deposit, including further drilling, metallurgical testing, and feasibility studies. These activities are crucial for the Company’s goal of advancing towards production and establishing itself as a significant player in the global magnesium market.
The exercise of these options further strengthens the Company’s balance sheet and provides additional working capital to support its operations and growth initiatives. With a solid financial foundation and a high-quality asset in its magnesium deposit, West High Yield Resources Ltd. is well-positioned to capitalize on the increasing demand for magnesium in various industries, including automotive, aerospace, and technology.
In conclusion, the proceeds from the exercise of options demonstrate the strong investor interest in West High Yield Resources Ltd. and its magnesium deposit. The Company’s focus on exploration and development activities in the magnesium deposit, supported by the recent influx of funds, positions it for future success and growth in the global magnesium market.
Overall, West High Yield Resources Ltd. continues to make significant strides towards its goal of becoming a leading magnesium producer, and the exercise of these options is a clear indication of the confidence that investors have in the Company’s potential.
