Relentless Resources Ltd.
TSX VENTURE : RRL

Relentless Resources Ltd.

December 12, 2014 16:05 ET

Relentless Resources Announces Private Placement Upsize and Completion

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) is pleased to announce an increase by $346,925 and completion of its previously announced non-brokered private placement. The Company issued 4,513,890 common shares of the Company ("Common Shares") at a price of $0.225 per Common Share and 4,930,740 Common Shares 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 $2.35 million. The Common Shares and Flow-Through Shares are subject to a four month hold period expiring on April 13, 2015. The Company paid a finder's fee of $14,496 to Fin-XO Securities Inc. 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.

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.

Contact Information

  • Relentless Resources Ltd.
    Dan Wilson
    CEO
    (403) 532-4466 ext. 227 or Mobile: (403) 874-9862

    Relentless Resources Ltd.
    Ron Peshke
    President
    (403) 532-4466 ext. 223 or Mobile: (403) 852-3403

    Relentless Resources Ltd.
    (403) 532-4466
    (587) 955-9668 (FAX)
    info@relentless-resources.com
    www.relentless-resources.com