CALGARY, ALBERTA–(Marketwired – July 15, 2013) – Relentless Resources Ltd. (“Relentless” or “the Company“) (TSX VENTURE:RRL) is pleased to announce the appointment of Mr. Murray Frame to the board of directors of the Company (the “Board“). With the addition of Mr. Frame, the Board is now comprised of four members, including Daniel T. Wilson, President and CEO, William C. Macdonald and Thomas W. Robinson, Corporate Secretary.
Murray Frame is a geologist with over 40 years of varied experience in the private and public sector of the western Canadian oil and gas industry. In the private sector, Mr. Frame served as Chairman and CEO of Canoil Inc. from 2002 until its sale in 2010, and prior thereto, as President and CEO of Canoil Energy Corporation from 1996 until its acquisition in 2002. Mr. Frame was also President and COO of Inverness Petroleum Ltd., an Toronto Stock Exchange listed, intermediate sized oil and gas company, until it was acquired in 1996.
The Company also announced that its Board has approved the granting of stock options to acquire an aggregate of 1,150,000 common shares of the Company to the executive officers, directors and consultants of the Company. The immediately vesting stock options were granted in accordance with the Company’s stock option plan and are exercisable for a period of five (5) years from the grant date at an exercise price of $0.165 per share.
The stock options (and the common shares issuable thereunder) are subject to a four month plus one day hold period expiring November 16, 2013, in accordance with applicable securities laws. The stock option grants are subject to receipt of final approval from the TSX Venture Exchange.
About Relentless Resources Ltd.
Relentless is a Calgary based emerging oil and natural gas company, engaged in the exploration, development, acquisition and production of natural gas and light gravity crude oil reserves in Alberta. Relentless’ common shares trade on the TSX Venture Exchange under the symbol RRL.
Relentless’ primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management.
Neither 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.
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