Parlay Entertainment Results of AGM

Parlay Entertainment Inc. (NEX:PEI) (the "Company"), is pleased to announce the
results of the annual and special general meeting (the "Meeting") of
shareholders that was held on October 3, 2012.


At the Meeting, Company shareholders elected as directors Messrs. Craig D.
Schneider, Alan D. Vichert and David Callander. MSCM LLP, Chartered Accountants,
were re-appointed as the auditors.


Shareholders also approved by way of special resolutions:

a) authorization for the Board to proceed with a share consolidation on the
basis of two (2) pre-consolidation common shares for one (1) post-consolidation
common share; and 


b) authorization for the Board to proceed with a concurrent name change.

A new stock option plan was also adopted.

The new Board appointed Mr. Schneider as the CEO/President and Mr. Sean Hodgins
as the CFO/Secretary.


The Company intends to proceed with the share consolidation and name change as
soon as reasonably practicable, subject to regulatory approval.


The Company is proceeding with the previously announced private placement to
qualified investors to raise up to $400,000 by the issuance of up to 8,000,000
pre-consolidation units at a deemed price of $0.05 per unit. The units will
consist of one common share and one-half of one share purchase warrant. A full
warrant may be exercised to purchase one additional common share for $0.10 for
12-months. 


On behalf of the Board of Directors of Parlay Entertainment Inc. 

Craig D. Schneider, President, CEO, director

This news release contains certain forward looking statements which involve
known and unknown risks, delays, and uncertainties not under the control of
Parlay Entertainment Inc., which may cause actual results, performance or
achievements of Parlay Entertainment Inc., to be materially different from the
results, performance or expectation implied by these forward looking statements.