Walker Announces Second Tranche Closing of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2020) - Walker River Resources Corp. (TSXV: WRR) ("Walker" or the "Company") is pleased to announce the second 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 $968,000.00. This now brings the total gross proceeds raised to $3,500,000.00 in the Company's non-brokered private placement.
A total of 9,680,000 units (each a "Unit"), were issued in the second tranche 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 years from closing at a price of $0.13 per Share.
In connection with the Private Placement, the Company has: (i) paid an aggregate of $77,440 in cash to eligible finders; and (ii) issued an aggregate of 758,000 share purchase warrants (the "Finders' Warrants") The Finders' Warrants will have the same terms as the Warrants forming part of the Units.
The Company completed the first tranche of the Private Placement (see news release 09-11-20) raising gross proceeds of $2,532,00.00 from the issuance of an aggregate 25,320,000 Units. Each Unit containing the same terms as the second-tranche above.
All securities to be issued pursuant to the Private Placement are subject to a four-month-and-a-day hold period expiring on January 16, 2021 in accordance with applicable securities legislation.
Proceeds of the private placement will be used for work 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:
Walker River Resources Corp.
Fax: 819 825-1199
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