Walker Increases Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2020) - Walker River Resources Corp. ("Walker" or the "Company") (TSXV: "WRR") is pleased to announce that in response to further investor interest arising from the Company's previously announced (see news release 08-20-2020) non-brokered private placement, it has been increased up to 35,000,000 units (the "Units", and each a "Unit") at a price of $0.10 per Unit to raise aggregate proceeds of up to $3,500,000 (the "Private Placement").
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 three (3) years from closing at a price of $0.13 per Share.
In connection with the Offering, the Company may pay cash finders' fees to eligible finders of up to 8% of the gross proceeds received and may issue warrants equal to 8% of the Units placed ("Finders Warrants"). The Finders' Warrants will have the same terms as the Warrants forming part of the Units.
Proceeds of the Private Placement will be used for work on the Company's mineral properties and general working capital.
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
Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Neither TSX Venture Exchange nor Its Regulation Service Provider (As That Term Is Defined In The Policies Of The TSX Venture Exchange) Accepts Responsibility For The Adequacy Or Accuracy Of This News Release.
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