Prospect Park Capital Announces Investee News and Success

TORONTO, ONTARIO--(Marketwired - May 29, 2015) - Prospect Park Capital Corp. ("Prospect Park") (TSX VENTURE:PPK), a public healthcare focused investment corporation, announces that one of its investees, IOI, LLC ("IOI"), has been advised by Serenity Pharmaceuticals, LLC ("Serenity") that is has successfully completed its 2nd confirmatory phase III trial for nocturia in adults. Serenity has advised its stakeholders that it intends to file its NDA (new drug application) with the US Food & Drug Administration ("FDA") for this indication by the end of the year. Prospect Park, through its investment in IOI, is a holder of certain notes payable in part or in whole after the FDA accepts the NDA application for approval of the Serenity nocturia drug.

Additional information about Prospect Park, its investment in IOI and Serenity is available in Prospect Park's management information circular filed on SEDAR (www.sedar.com) on August 29, 2014.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties, including the likelihood the FDA accepts the NDA application for approval of the Serenity nocturia drug. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Prospect Park believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Prospect Park disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither 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.