Vancouver, British Columbia ...Parlane Resource Corp. (TSX-V:PPP) ('Parlane') is pleased to announce that it has arranged a non-brokered private placement of up to 1,833,334 units (the 'Units') at a price of $0.15 per Unit, for gross proceeds of up to $275,000.
Each Unit will consist of one common share of the Company and one-half share purchase warrant (a 'Warrant') with each whole Warrant entitling the holder thereof to acquire an additional common share of the Company for two years at a price of $0.20 per share.
The net proceeds of the private placement will be used for general corporate purposes, further exploration of its Big Bear project and investigating other opportunities for the Company.
A finder's fee may apply for a portion of the private placement in accordance with the policies of the Exchange.
The private placement is subject to Exchange acceptance. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
ON BEHALF OF THE BOARD
Signed 'Robert Eadie'
___________________________________________________________________
Robert Eadie, President, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Website: www.parlaneresource.com
Contact: Robert Eadie
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.