Vancouver, British Columbia - Further to its news releases of July 5, August 2 and August 25, 2016, Parlane Resource Corp. (TSXV:PPP) ('Parlane' or the 'Company') announced today that it has closed Tranche 2 of its brokered private placement with the issuance of 765,400 Units (the 'Units') priced at $0.15 per Unit, for gross proceeds of $114,810.
Each Unit consists of one common share of the Company and one-half of one share purchase warrant with each whole Warrant (a 'Warrant') entitling the holder thereof to acquire an additional common share of the Company for a period of two years at a price of $0.20 per share.
Finder's fees were paid to Canaccord Genuity Corp. in the form of a cash payment of $8,036.30 and 53,578 agents' warrants with the same terms and conditions as the Warrants comprising part of the Units.
Tranches 1 and 2 of the non-brokered private placement raised a total of $325,977 for the Company through the issuance of 2,173,180 Units priced at $0.15 per Unit.
All securities issued are subject to a hold period of four months in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.
ON BEHALF OF THE BOARD
Signed 'Robert Eadie'
Robert Eadie, President, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
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.