CALGARY, ALBERTA–(Marketwired – May 13, 2016) – Relentless Resources Ltd. (“Relentless” or the “Company“) (TSX VENTURE:RRL) announces that its existing banker has renewed the Company’s credit facility with an amended borrowing base of $3 million, of which $2.55 million is currently drawn.
The loan is a revolving term facility and bears interest at Prime plus 1.5% per annum.
The demand facilities are subject to annual review, provided that the first such review date shall not occur prior to May 31, 2017.