WALKER LANE EXPLORATION, INC. (OTCMKTS:WKLN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On February 20, 2018, Walker Lane Exploration, Inc. (the “Company”) and the stockholders of XON Energy Resources Inc. (“XON”), a Texas corporation, entered into a Share Exchange Agreement (the “Agreement”), to which the Company and the XON stockholders have agreed, subject to conditions set forth in the Agreement, to consummate a share exchange in which the XON stockholders would sell and transfer all of their shares of common stock of XON to the Company and, as consideration therefor, the Company would sell and issue to such XON stockholders, ratably, 6,115,279 newly issued restricted shares of the Company’s common stock.
As a result of the share exchange, if consummated, XON will become a wholly-owned subsidiary of the Company and the XON Stockholders shall together own and hold common shares of the Company consisting of approximately 45% of the total issued and outstanding common stock of the Company.
The Agreement contains conditions which must be satisfied by the Company and the XON stockholders before closing, which if successful will be reported by the Company by an amendment of this current report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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Exhibit No. |
Document |
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10.1 |
Share Exchange Agreement, dated as of February 19, 2018, by and among Walker Lane Exploration, Inc. (the Registrant) and the stockholders of XON Energy Resources Inc. named therein. |
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Walker Lane Exploration, Inc. ExhibitEX-10.1 2 wkln_ex10z1.htm SHARE EXCHANGE AGREEMENT SHARE EXCHANGE AGREEMENT EXHIBIT 10.1 SHARE EXCHANGE AGREEMENT This Share Exchange Agreement (this Agreement) is made effective the 19th day of February,…To view the full exhibit click here
About WALKER LANE EXPLORATION, INC. (OTCMKTS:WKLN)
Walker Lane Exploration, Inc. is engaged in the acquisition and exploration of mineral properties. The Company focuses on the exploration of gold and silver prospects within the Walker Lane Belt. As of April 30, 2015, it controlled 43 claims in total totaling 860 acres. As of April 30, 2015, it controlled three exploration properties: Pyramid, West Trinity and Paradise Peak. As of April 30, 2015, the Pyramid property included seven 20-acre lode claims in Washoe County, Nevada. As of April 30, 2015, the West Trinity property included 23 20-acre lode claims in Churchill County, Nevada. As of April 30, 2015, the Paradise Peak property included nine claims in the Paradise Peak Mining District, Nye County, Nevada. The Trinity Property is located over 62 miles northeast of Reno. The Pyramid Property is located approximately 30 miles north of Reno. The Paradise Peak Property is an epithermal gold-silver mineral system located in the Paradise Peak Mining District in the Walker Lane region.