Walker Closes First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 11, 2020) - Walker River Resources Corp. (TSXV: "WRR") ("Walker" or the "Company") is pleased to announce the first tranche (the "First Tranche") closing of the Company's previously announced (see news releases: 08-20-2020 and 08-21-2020) non-brokered private placement for gross proceeds of $2,532,00.00.
A total of 25,320,000 units (each a "Unit") were issued at a price of $0.10 per unit. Each unit consists 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.
The Company has paid finders fees in connection with the First Tranche of the Private Placement as follows: (i) paid an aggregate of $165,600 in cash to eligible finders; and (ii) issued an aggregate of 1,656,000 share purchase warrants (the "Finders' Warrants") The Finders' Warrants will have the same terms as the Warrants forming part of the Units.
All securities to be issued pursuant to the Private Placement are subject to a four-month-and-a-day hold period expiring on January 11, 2021 in accordance with applicable securities legislation. Closing of the remainder of the Private Placement shall be subject to receipt of acceptance by the TSX Venture Exchange. The Company anticipates that the second and final tranche of the Private Placement will close next week.
Proceeds of the Private Placement will be used for exploration on the Company's mineral properties and general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
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