CALGARY, ALBERTA–(Marketwired – Dec. 18, 2015) – Relentless Resources Ltd. (“Relentless” or the “Company“) (TSX VENTURE:RRL) is pleased to announce the completion of its previously announced private placement. The Company issued 5,625,000 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 $0.16 per Flow-Through Share for aggregate gross proceeds of $900,000. The Flow-Through Shares are subject to a four month hold period expiring on April 19, 2016. The Company paid a commission of $30,000 to Harbard Square Plaza Corporation in connection with 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’s common shares trade on the TSX Venture Exchange under the symbol “RRL”.
Relentless’s primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management.