Walmer Capital Corp. Announces Extension of Release Deadline of Subscription Receipts

Calgary, Alberta--(Newsfile Corp. - February 3, 2017) - Jay Richardson, Chief Executive Officer and Chairman of Walmer Capital Corp. (TSXV: WAL.H), (the "Company" or "Walmer"), a capital pool company, is pleased to announce that pursuant to the terms of the subscription receipts agreement dated December 7, 2016 (the "Subscription Receipt Agreement") the Release Deadline (as defined in the Subscription Receipt Agreement) has been extended by two months, until 5:00 p.m. (Eastern Standard Time) on March 31, 2017.

The Company having filed its draft filing statement is working closely with the TSX Venture Exchange to finalize its filing statement at complete its Qualifying Transaction. The Company anticipates closing its Qualifying Transaction in the second half of February.

Jay Richardson said, "We are pleased with the progress we have made towards Closing our Qualifying Transaction and look forward to its completion. Meantime, we are making good use of the time available to undertake the planning necessary to initiate the exploration program that will begin in the Spring when weather conditions become more amenable."

About Walmer Capital Corp.

Walmer is a CPC that completed its initial public offering and obtained a listing on the Exchange in May, 2012. In August 2014, Walmer was transferred to the NEX Board of the Exchange (Trading Symbol "WAL.H") and trading in its shares was suspended. Walmer does not carry on any active business activity other than reviewing potential transactions that would qualify as Walmer's Qualifying Transaction.

ON BEHALF OF THE BOARD OF DIRECTORS:

Jay Richardson, Chief Executive Officer and Director
Contact: jay.richardson@sympatico.ca
Toronto Office: 416-410-JAYR [5297].

READER ADVISORY

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.