Walker Lane Exploration, Inc. (OTCPK:WKLN) entered into an agreement to acquire XON Energy Resources, Inc. on February 20, 2018. Walker Lane Exploration would issue 6.1 million newly issued restricted shares of common stock, representing 45% stake in Walker Lane Exploration, to the shareholders of XON Energy Resources. Post the transaction, XON Energy Resources will become a wholly owned subsidiary of Walker Lane. The transaction is subject to the approval of the shareholders of XON Energy Resources, regulatory approval and mutual satisfaction of both the parties will be treated the transaction for income tax purpose as a tax free reorganization under Section 368 (a)(1)(B) of the Internal Revenue Code of 1986.