Palisades Announces Closing of $222,500 Private Placement

PALISADES VENTURES INC.

PALISADES ANNOUNCES CLOSING OF $222,500 PRIVATE PLACEMENT

Vancouver, British Columbia – May 2, 2016 – Palisades Ventures Inc. (TSX.V: PSV) announces that it has closed its previously announced non-brokered private placement of $222,500. The private placement consisted of 4,450,000 units at a price of $0.05 per unit, with each unit comprised of one common share and one-half of one share purchase warrant, with each full warrant entitling the holder to purchase an additional common share at an exercise price of $0.10 per share for a period of two years from the date of closing. No finders' fee were paid. The use of proceeds will be for general working capital purposes. All securities issued under the private placement are subject to a four-month hold period.

On behalf of the Board of Directors of Palisades Ventures Inc.

Gordon Steblin

Gordon Steblin CFO

Palisades Ventures Inc.

Telephone: (778) 888-9710

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.