/NOT FOR DISTRIBUTION TO THE UNITED
STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO,
Feb. 15, 2013 /CNW/ - Parkside
Resources Corporation (the "Company") announces a non-brokered
private placement comprised of 4,000,000 Non-Flow-Through Units
("Unit") at a price of $0.10 per
Unit; and 833,333 Flow-Through Units ("FT Unit") at a price of
$0.12 per FT Unit for gross proceeds
of up to $500,000 (the "Offering").
Each Unit will consist of one common share and one share purchase
warrant (a "Warrant"), entitling the holder to purchase one common
share at $0.20 per share at any time
until the close of business on the day which is 24 months from the
date of issue of the Warrant. Each FT Unit will consist of
one flow-through common share and one Warrant.
The proceeds from the Flow-Through Private
Placement will be used to incur exploration expenses on the
Forester Lake Property, while the proceeds from the
Non-Flow-Through Unit Private Placement will be used for general
corporate and working capital purposes.
Closing of the Offering is anticipated to occur
on or before March 29, 2013 and is
subject to receipt of applicable regulatory approvals including the
approval of the TSX Venture Exchange. Finder's fees may be
payable in connection with the Offering, in accordance with the
policies of the Exchange.
Parkside Resources Corporation also announces
that Mr. Nick Tsimidis has resigned
from the Board of Directors of the Company. The Company wishes to
express its sincere gratitude for the services provided by Mr.
Tsimidis during his tenure as a Parkside Resources director, and as
Chair of the Audit Committee.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian
based mineral exploration company dedicated to building shareholder
value through focused exploration, discovery and development of
high quality precious and base metal projects. The Company has
entered into an Option and Joint Venture Agreement with Benton
Resources Corporation to explore the Forester Lake Gold Property
which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km
southeast of Goldcorp's Musselwhite Gold
Mine. Incorporated in 2005 Parkside Resources Corporation is
a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are
listed for trading on the TSX Venture Exchange under the symbol
TSX-V: PKS.
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.
Forward Looking and other Cautionary
Information
This release includes certain statements that
may be deemed "forward‐looking statements". All statements in this
release, other than statements of historical facts that address
exploration drilling, exploitation activities and other related
events or developments are forward‐looking statements. Although the
Company believes the expectations expressed in such forward‐looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the forward
looking statements. Factors that could cause actual results to
differ materially from those in forward‐looking statements include
market prices, exploration and exploitation successes, continuity
of mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and
natural resource exploration and exploitation, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward‐looking statements.
SOURCE Parkside Resources Corporation