Vancouver, British Columbia ...Parlane Resource Corp. (TSX-V:PPP) ('Parlane') is pleased to report that the private placement of convertible debentures for aggregate proceeds of $100,000 (the 'Debenture') announced in its news release of April 18, 2016 has been completed. The Debenture bears interest at 8.0% per annum, calculated annually and will mature 24 months from the date of issue. At maturity, any portion of the Debenture that remains unpaid must be converted into units of Parlane priced at $0.15 per Unit, each Unit comprised of one common share and one-half warrant. Each whole Warrant is exercisable for a period of two years from the date of issue and will entitle the holder to purchase one common share of Parlane at $0.20 per share.
The Company is awaiting regulatory acceptance of the Debenture.
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.