Parlane Resource Corp.
TSX VENTURE : PPP.P

Parlane Resource Corp.

September 23, 2009 10:09 ET

Parlane Closes $1,020,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2009) - Parlane Resource Corp. ("Parlane") (TSX VENTURE:PPP.P) announced that it has completed its previously announced private placement of 6,000,000 common shares for gross proceeds of $1,020,000 (the "Offering"). The Offering was completed on both a brokered and non-brokered basis.

Jordan Capital Markets Inc. (the "Agent") acted as agent for the brokered portion of the Offering consisting of 4,255,000 common shares at a price of $0.17 per share and in connection therewith, the Agent and its sub-agents were paid an aggregate cash commission in the amount of $57,868.00, in addition to a corporate finance fee.

The non-brokered portion of the Offering consisted of 1,745,000 common shares at a price of $0.17 per common share for gross proceeds of $296,650.00. Parlane paid finder's fees of $10,132.00 on the non-brokered portion of the Offering.

All securities issued are subject to a hold period expiring on January 23, 2010 in accordance with the rules and policies of the TSX Venture Exchange and the applicable securities laws.

ON BEHALF OF THE BOARD

Robert Eadie, President and Chief Executive Officer

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the common shares in the United States. The common shares have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act of 1933 and all applicable state securities laws, or an applicable exemption from registration requirements.

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.

Contact Information

  • Parlane Resource Corp.
    Robert Eadie
    President and Chief Executive Officer
    604-602-4935 or Toll Free: 1-866-602-4935
    604-602-4936 (FAX)
    www.parlaneresource.com