TSX-V: WLR
Frankfurt: 6YL
VANCOUVER, BC, March 25, 2026 /CNW/ - Walker Lane Resources Ltd. (TSXV: WLR) (Frankfurt: ZM5P) ("WLR" or the "Company") is pleased to announce that further to its news release dated February 23, 2026, it has closed the first tranche of its non-brokered private placement (the "Private Placement") through the issuance of 250,000 flow-through units of the Company (each, a "FT Unit") at a price of C$0.14 per FT Unit for gross proceeds of $35,000; and 1,280,000 non-flow-through units of the Company (each, a "Unit") at a price of C$0.125 per Unit for gross proceeds of $160,000, for aggregate gross proceeds of $195,000.
Each FT Unit consisted of one common share of the Company, issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one-half of one transferrable non-flow-through share purchase warrant (each full warrant, a "Warrant"). Each Unit consisted of one common share of the Company (each, a "Unit Share") and one Warrant. Each whole Warrant entitles the holder thereof to acquire one non-flow-through common share of the Company (each, a "Warrant Share") at a price of C$0.16 per Warrant Share for a period of 24 months from the closing date of the Private Placement.
Proceeds from the sale of FT Shares to eligible investors in Canada will be used to incur "Canadian exploration expenses" and "flow through mining expenditures" as these terms are defined in the Income Tax Act (Canada). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2026, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.
The net proceeds from the sale of FT Units will be used to fund the Company's exploration program at its Amy and Silver Hart Properties in the Rancheria Silver District, (Yukon/British Columbia) and the net proceeds from the sale of NFT Units will be used for general working capital.
In connection with the Private Placement, the Company paid a finder's fee of $9,000 in cash and issued 72,000 non-transferable warrants (the "Finder's Warrants") to a certain finder. The terms of the Finder's Warrants are the same as the Warrants distributed in the FT Units and the NFT Units.
All securities issued pursuant to the Private Placement are subject to a four month and one day hold period under Canadian securities laws.
The Company will allocate some of the funds towards completing outstanding regulatory and compliance matters to lift its default status and address financial reporting requirements, which includes the completion of the audit of the financial statements for the year ended September 30, 2025. The Company is in discussions with its auditor on these matters and expects that the filings will be completed as soon as possible. This will ultimately resolve the current Management Cease Trade Order that has been issued by the British Columbia Securities Commission on the Company Directors and officers. It will also enable the Company to pursue additional financing options at that time should it be appropriate.
The securities issued pursuant to the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of 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. and other property assets in Yukon. The Company intends to initiate an aggressive exploration program to advance its projects through drilling programs with the aim of achieving resource definition in the near future.
For more information, please consult the Company's filings, available at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Kevin Brewer
President, CEO and Director
Walker Lane Resources Ltd.
Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements, as defined under applicable securities laws (collectively referred to herein as "forward-looking statements"). These forward-looking statements are generally identified by words such as "believe," "project," "aim," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions, and in this news release include statements respecting the receipt of TSXV approval, completion of the Private Placement, and the Company's plans for the use of the proceeds of the Private Placement. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
SOURCE Walker Lane Resources Ltd
For Further Information and Investor Inquiries: Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng., Tel: (+52) 669 198 8503, In Canada you may need to dial 011-52-1-669 918 8503 or email me and I will call you back, Email: kbrewer80@hotmail.com, Address: Suite 1600-409 Granville St., Vancouver, BC, V6C 1T2
