Walker Lane Resources Ltd. Announces Closing of Private Placement

Core Viewpoint - Walker Lane Resources Ltd. has successfully closed a non-brokered private placement, raising a total of $386,000 through the issuance of non-flow through and flow-through units [1][2]. Group 1: Private Placement Details - The company issued 2,508,335 non-flow through units (NFT Units) at a price of $0.12 each, generating gross proceeds of $301,000 [1]. - Additionally, 607,143 flow-through units (FT Units) were issued at a price of $0.14 each, raising gross proceeds of $85,000 [1]. - Each NFT Unit and FT Unit consists of one common share and one common share purchase warrant, with warrants exercisable for two years at $0.16 per common share [1]. Group 2: Insider Participation - An insider subscribed for a total of 1,178,571 units, including 750,000 NFT Units and 428,571 FT Units, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [2]. - The company utilized exemptions from valuation requirements and minority approval due to the insider's participation not exceeding 25% of the company's market capitalization [2]. Group 3: Use of Proceeds - Proceeds from the sale of FT Units will be allocated to Canadian exploration expenses and flow-through mining expenditures, particularly for exploration at the Amy and Silver Hart Properties in the Rancheria Silver District [3]. - The net proceeds from NFT Units will be used for properties in Nevada, including Tule Canyon, Cambridge, and Silver Mountain, as well as for general working capital [3]. - Both FT and NFT Units are subject to a four-month hold period [3]. Group 4: Company Overview - Walker Lane Resources Ltd. is focused on exploring high-grade gold, silver, and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. [4]. - The company plans to initiate exploration programs to advance the Tule Canyon and Amy projects to the resource definition stage through upcoming drilling campaigns [4][5].