CALGARY, ALBERTA--(Marketwired - Dec. 18, 2015) -
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 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.
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.
(December 18, 2015 - 4:34 PM EST)
News by QuoteMedia