Vancouver, British Columbia, August 15, 2022 – Parallel Mining Corp. (the “Company”) is pleased to announce it has closed the first tranche of a non-brokered private placement for gross proceeds of $1,746,250 pursuant to which the Company issued an aggregate of 11,641,665 common shares of theCompany at a price of $0.15 per share (the “Private Placement”).
The proceeds from the Private Placement will be used for general working capital purposes. All securities issued pursuant to the Private Placement are subject to a statutory four month hold period ending onDecember 16, 2022, in accordance with applicable securities laws.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicableexemption from the registration requirements.
For further information, please contact:
PARALLEL MINING CORP.
John Anderson,
President & Chief Executive Officer
Parallel Mining Corp.
(604) 218-7400
janderson@parallelgold.com
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