/NOT FOR DISTRIBUTION TO THE UNITED
STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
VANCOUVER,
Dec. 31, 2012 /CNW/ - Parkside
Resources Corporation (the "Company") is pleased to announce
that further to its news release dated November 15, 2012, the Company has closed its
non-brokered private placement (the "Offering") on the terms and
conditions described below.
The Company has issued 1,027,000 flow-through
common share units ("Flow-Through Units") at $0.12 per unit for gross proceeds of $123,240. Each Flow-Through Unit consists
of one flow-through common share (the "Flow-Through Shares") and
one common share purchase warrant (the "Warrants"). The Company has
also issued 205,000 units ("Units") at $0.10 per unit for gross proceeds of $20,500. Each Unit consists of one common
share (the "Shares") and Warrant. Each Warrant entitles the
holder thereof to acquire one common share in the capital of the
Company at a price of $0.20 per
common share until June 30, 2015. The
Warrants will not be listed for trading.
In connection with the Offering, Macquarie
Private Wealth Inc. received a cash finder's fee of $3,804 and was issued 31,700 finder's warrants
and Accilent Capital Management Inc. received a cash finder's fee
of $5,250 and was issued 43,750
finder's warrants (collectively, the "Finder's Warrants"). Each
Finder's Warrant is exercisable to purchase one common share at a
price of $0.13 until June 30, 2015.
All securities issued under or in connection
with the Offering are subject to a hold period that expires on
May 1, 2013. The Offering is
subject to the final acceptance of the TSX Venture Exchange.
The Company intends to use the gross proceeds
from the sale of the Units and Flow-Through Units to fund a portion
of a 1,500m winter 2013 drill program on the Company's Forester
Lake Property and for general working capital purposes.
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