Walker Announces Private Placement
Suite 820-1130 West Pender St Vancouver, B.C. V6E 4A4 Tel : 819 874-0030 Fax : 819 825-1199 _________________________________________________________________________________________
Trading Symbol: WRR
NEWS RELEASE
WALKER ANNOUNCES PRIVATE PLACEMENT
Vancouver, B.C. March 13, 2017 - Walker River Resources Corp. (“Walker” or the “Company”) (TSX-V: “WRR”) announces it has arranged a non-brokered private placement of up to 10,000,000 units (the “Units”, and each a “Unit”) at a price of $0.06 per Unit to raise aggregate proceeds of up to $600,000 (the “Private Placement”). The Company has closed the first tranche of the Private Placement raising gross proceeds of $308,200 from the issuance of an aggregate 5,136,667 Units.
Each Unit shall consist of one common share (a “Share”) and one Share purchase warrant (the “Warrant”), whereby each Warrant shall be exercisable into one Share for a period of two (2) years from closing at a price of $0.10 per Share.
The Warrants shall contain an acceleration provision that, in the event the closing sale price of Walker’s Shares on the TSX Venture Exchange is $0.25 or greater for a period of ten (10) consecutive trading days, then the warrant holders will have thirty (30) days to exercise their warrants; otherwise the warrants will expire on the 31st day.
Proceeds of the private placement will be used for work on the Company's mineral properties and general working capital.
The Company may pay finders’ fees in respect of subscriptions from investors introduced by finders. Finders’ fees shall be payable in cash and Warrants equal to 8% of the Units sold to investors introduced by finders. The Company has paid $9,936.00 cash in commissions on the first tranche of the private placement, and issued 165,600 non-transferable finders’ warrants, each entitling its holder to acquire one common share at $0.10 for a two (2) period after closing of the private placement.
All securities to be issued in connection with the Private Placement shall be subject to a four-month hold period in accordance with applicable securities legislation. Closing of the first tranche and the remainder of the Private Placement shall be subject to receipt of acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michel David”
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Michel David
Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Walker River Resources Corp.
Tel: 819 874-0030 Fax: 819 825-1199 Email: [email protected] Website: www.wrrgold.com
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