Calgary, Alberta--(Newsfile Corp. - March 22, 2017) - Jay Richardson, Chief Executive Officer and Chairman of Walmer Capital Corp. (TSXV: WAL.H) (the "Company" or "Walmer"), a capital pool company, is pleased to announce that it has received the conditional approval of the TSX Venture Exchange to close its Qualifying Transaction. The Company previously announced on November 3, 2016 the purchase agreement with Globex Mining Enterprises Inc. ("Globex") whereby Walmer will acquire the 100% legal and beneficial interest in the mineral property referred to as the Johan Beetz Feldspar Property located in Johan Beetz/Iles et ilets de Mingan 03 Township, Province of Quebec (the "Property"), which transaction constitutes the Company's Qualifying Transaction.
The Company is also pleased to announce that it has posted a Filing Statement dated March 22, 2017 on the Company's profile on SEDAR (www.sedar.com) disclosing the details of the Qualifying Transaction and concurrent private placement financing. In addition, the Company has also filed on SEDAR a technical report in respect of the Property.
The Qualifying Transaction is scheduled to close on or before the end of March, 2017 and remains subject to final Exchange approval.
Upon completion of the Qualifying Transaction all shares held by the principals of the Company (as such term is defined in the Exchange's policies) will be held in escrow in accordance with the policies of the Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS:
Jay Richardson, Chief Executive Officer and Director
Toronto Office: 416-410-JAYR .
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.