Lakewood, CO, March 23, 2018 (GLOBE NEWSWIRE) -- Phillip Allen, CEO of Walker Lane Exploration, Inc., (WKLN) is pleased to announce major changes in the direction and operations of the Company. On December 26, 2017, the Company successfully rescinded the Asset Purchase Agreement originally consummated with SJE Mining on July 31, 2014. As a key element of the Rescission Agreement, SJE Mining surrendered to the Company Treasury 6,150,000 of their original 8,000,000 shares of common stock. Please see details in the 8-K current report Edgar filing on February 8, 2018.
With the completion of the Rescission of the Asset Purchase Agreement, Walker Lane proceeded to enter into a Share Exchange Agreement on February 19, 2018 with XON Energy Resources, Inc., of Austin, TX. Under the terms of the Agreement XON will become a wholly owned subsidiary of Walker Lane and the owners of XON would receive approximately 45% of the authorized and issued common stock of the Company. See 8-K current report Edgar Filing dated February 19, 2018 for full details.
Walker Lane successfully completed the Share Exchange Agreement with XON Energy Resources on the 15th of March and is now in position to move the company into production.
About Walker Lane Exploration, Inc., Walker Lane (WKLN) has been a Nevada development stage mining company since 2007. It was originally Goldspan Resources, Inc., (GSPN). On July 31, 2014 the Company entered into an Asset Purchase Agreement with SJE Mining which resulted in changing the name to Walker Lane Exploration and the trading symbol (WKLN) in November of 2014. This action was filed with Edgar and is accessible for your review. If you have further questions, please contact Phil Allen at 303.875.1044.
Forward Looking Statement: This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe", "hopes", "intends", "estimates", "expects", "projects", "plans", "anticipates", "look forward to", "goal", "may be", and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding our future growth, and shareholder value. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
Investor Relations contact: Phillip Allen, CEO; 303.875.1044 or firstname.lastname@example.org
Source:Walker Lane Exploration, Inc.