Walkabout Resources Limited announced a private placement of common shares for proceeds for $10,000,000 on February 27, 2023. The company entered into standby financing arrangement. The transaction will include participation from returning investor Battery Metals Capital Group, LLC. The funding is for term of 24 months and to be substantially drawn at the Company?s discretion. Each drawdown under the Commitment may not exceed $1,000,000, and the Company will not require the Investor to provide funding under the Commitment within a month of a prior disbursement by the Investor, but the Investor may accelerate the funding of up to $3,000,000 of the Commitment in the event the Company has utilized the Commitment. In relation to each funding amount provided by the Investor to the Company under the Commitment, the Company will issue Subscription Shares, at the Investor?s request, within 24 months of the date of the related funding. The Company will make an initial issuance of 3,472,000 shares to the Investor in the coming days, with a further issuance of 21,328,000 shares at the time of the first drawdown on the Commitment by the Company. The Commitment is for a term of 24 months and constitutes standby funding to be substantially drawn at the
Company?s discretion.