West High Yield Reaches Agreement to Sell Mining Assets for $750 Million USD
West High Yield Resources Ltd (WHY_CDNX)
Company Research
Source: Marketwire
CALGARY, ALBERTA -- (Marketwired) -- 10/05/17 -- West High Yield (W.H.Y.) Resources Ltd.(TSX VENTURE:WHY) (the "Company") is pleased to announce that it has signed a definitive arm's length purchase and sale agreement (the "Agreement") to sell 100% of its right, title and interest in its Record Ridge South, Midnight, and O.K. mineral properties (the "Assets") to Gryphon Enterprises, LLC (the "Purchaser"), a company based in Maryland, USA, for a purchase price of US$750 million. The Agreement includes representations and warranties to each party customary in a transaction of this nature and is subject to a number of conditions including, without limitation, the following: (i) on or before the closing date, the Company shall have entered into a take and pay agreement(s) in the form and on terms and conditions acceptable to the Purchaser, acting reasonably; and (ii) all director, shareholder, securities and regulatory approvals and acceptances (as required) and all third p
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