/NOT FOR DISTRIBUTION TO THE UNITED
STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
VANCOUVER,
Oct. 30, 2012 /CNW/ - Parkside
Resources Corporation (TSXV: PKS) (the "Company") is pleased to
announce the closing of the Secondary Offering (as defined below)
as previously announced in their news releases dated August 9, 2012 and August 17, 2012 and as described in its
Amended and Restated Listing Application dated July 31, 2012.
The Company has issued 2,417,000 flow-through
common share units ("Flow-Through Units") at $0.12 per unit for gross proceeds of $290,040 (the "Secondary Offering"). Each
Flow-Through Unit consists of one flow-through common share (the
"Flow-Through Shares") and one common share purchase warrant (the
"Warrants"). 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
April 29, 2015. The Warrants will not
be listed for trading.
In connection with the Secondary Offering,
Macquarie Private Wealth Inc. received a cash fee of $29,004 and was issued 241,700 agent's options
(the "Agent's Options"). Each Agent's Option is exercisable to
purchase one common share at a price of $0.10 until April 29,
2015.
All securities issued under or in connection
with the Secondary Offering are subject to a hold period that
expires on March 1, 2013. The
Secondary Offering is subject to the final acceptance of the TSX
Venture Exchange.
Proceeds from the issue of the Flow-Through
Shares held within the Flow-Through Units will be used primarily to
fund a portion of a planned 1,500m drill program, scheduled to
commence in the winter of 2013.
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.
SOURCE Parkside Resources Corporation