CALGARY, ALBERTA–(Marketwired – Dec. 18, 2014) – Relentless Resources Ltd. (“Relentless” or the “Company“) (TSX VENTURE:RRL) is pleased to announce that it has completed a second tranche of its previously announced non-brokered private placement. Relentless issued 1,852,000 common shares of the Company issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares“) at a price of $0.27 per Flow-Through Share for aggregate gross proceeds of approximately $0.5 million. The Flow-Through Shares are subject to a four month hold period expiring on April 19, 2015. The Company paid a finder’s fee of $37,503 to AltaCorp Capital in connection with the second tranche of the private placement. The Company has raised total gross proceeds of approximately $2.85 million in the private placement.
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.
[expand title=”Advisories & Contact”]Cautionary Statements
This press release is not an offer of subscription receipts or common shares for sale in the United States. The subscription receipts and common shares may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from such registration. The Company has not registered and will not register the subscription receipts or common shares under the U.S. Securities Act of 1933, as amended. The Company does not intend to engage in a public offering of common shares in the United States.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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.
Relentless Resources Ltd.
Dan Wilson, CEO
(403) 532-4466 ext. 227
Mobile: (403) 874-9862
(587) 955-9668 (FAX)
Relentless Resources Ltd.
Ron Peshke, President
(403) 5320-4466 ext. 223
Mobile: (403) 852-3403
(587) 955-9668 (FAX)
info@relentless-resources.com
www.relentless-resources.com
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