Walker Innovation Inc. (OTCQB:WLKR) ("Walker Innovation" or the "Company"), an innovation services firm that helps companies improve their internal product and business development efforts and also owns a portfolio of its own intellectual property, today announced that it raised $4.9 million from the sale of 2.5 million shares of Class A Common Stock in The Upside Commerce Group ("Upside"). The Company partially exercised its warrant to acquire the shares of Class A Common Stock at a price of $0.06 per share. Prior to the transaction, the Company held a warrant to purchase 16.4 million shares of Class A Common Stock in Upside. After giving effect to the sale, the Company retains a warrant to purchase an additional 13.9 million shares of Class A Common Stock, representing approximately 13% of Upside's equity on a fully diluted basis, at an exercise price of $0.06 per share. "We are very pleased with the stock sale, which allows us to create immediate value for shareholders while retaining the bulk of our Upside warrant," said Jonathan Ellenthal, Chief Executive Officer of Walker Innovation. "Completing this transaction before Upside's public launch reflects the enthusiasm for the prospects of Jay Walker's new business travel venture and suggests the potential to deliver additional shareholder value from the Company's remaining warrant holding." The Company expects to use the proceeds of this transaction to continue with its focused Licensing and Enforcement program, and to further its efforts to acquire one or more operating businesses, either within its current verticals or in new industry segments, or control of such operating businesses through contractual arrangements. Forward-Looking Statements This press release may contain certain "forward-looking statements" that reflect the Company's current expectations and projections about its future results, performance, prospects and opportunities. When used, the words "anticipate," "believe," "estimate," "expect" and "intend" and words or phrases of similar import, as they relate to Walker Innovation, are intended to identify forward-looking statements. Such forward-looking statements include, in particular, projections about the Company's future results, statements about its plans, strategies, business prospects, changes and trends in its business and the markets in which it operates.