West High Yield Resources (TSE:WHY) has released an update.
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West High Yield (W.H.Y.) Resources Ltd. has successfully completed the second tranche of its private placement, raising CAD$225,000 through the issuance of units, while also converting CAD$320,000 of debt into common shares to support its future operations and drilling program. The raised funds are earmarked for the company’s permitting process, general working capital, and essential operations, including a drilling program for a magnesium deposit. The debt conversion aims to preserve cash and will not create new insiders or control persons within the company.
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