Walmer Capital Corp. Announces Closing of Final Tranche of Private Placement Financing

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2016) - Jay Richardson, Chief Executive Officer and Chairman of Walmer Capital Corp. (NEX:WAL.H) (the "Company" or "Walmer"), a capital pool company, is pleased to announce that they have completed the final tranche of its previously announced non-brokered private placement financing (the "Financing"). Pursuant to the Financing, Walmer issued 7,110,000 "flow-through" shares ("FT Shares") at a price of $0.05 per share for gross proceeds of $355,500.

All securities issued in connection with the Financing are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.

First Republic Capital Corporation ("First Republic") acted as the lead finder for the Financing. A cash fee was paid to finders representing 8% of the gross proceeds raised in the Financing. Additionally, finders received that number of compensation options ("Compensation Options") totaling 8% of the number of FT Shares sold pursuant to the Financing. The Compensation Options are exercisable at a price of C$0.05 per share for a period of 18 months after the closing of the Financing. First Republic was paid a corporate finance fee representing 2% of the gross proceeds raised in the Financing and that number of Compensation Options equaling 2% of the number of FT Shares sold in the Financing.

About Walmer Capital Corp.: Walmer is a CPC that completed its initial public offering and obtained a listing on the Exchange in May 2012. In August 2014, Walmer was transferred to the NEX Board of the Exchange (Trading Symbol "WAL.H") and trading in its shares was suspended. Walmer does not carry on any active business activity other than reviewing potential transactions that would qualify as Walmer's Qualifying Transaction.

ON BEHALF OF THE BOARD OF DIRECTORS:

Jay Richardson, Chief Executive Officer and Director

READER ADVISORY

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.