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RRL Resolute Resources Ltd

0.01
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Resolute Resources Ltd TSXV:RRL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.01 0.01 0.015 0 01:00:00

Relentless Resources Announces Increase to and Completion of Financing and Completion of Peace River Arch Asset Acquisition

27/06/2014 11:33pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS. 


Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) is
pleased to announced an increase to the common share component by $750,000 and
completion of its previously announced non-brokered private placement. The
Company issued 4,166,666 common shares on a "flow through" basis ("FT Shares")
at $0.24 per FT Share and 13,750,000 common shares ("Common Shares") at $0.20
per Common Share for aggregate gross proceeds of $3.75 million. The Common
Shares and FT Shares are subject to a four month hold period. 


The Company is also pleased to announce that it has completed the previously
announced purchase of certain assets consisting of approximately 127 boe/d of
conventional producing petroleum and natural gas properties in the Peace River
Arch Area of Alberta from its nominee, 1819113 Alberta Ltd., for a purchase
price of $3.0 million.


Relentless also announces that Mr. Sony Gill has been appointed as Corporate
Secretary of the Company effective June 27, 2014. Mr. Gill is a partner in the
CFMA Group in the Calgary office of the national law firm McCarthy Tetrault LLP.
Mr. Gill will replace Mr. Leigh Stewart who has resigned as Corporate Secretary.
Relentless wishes to thank Mr. Stewart for providing guidance to the Company for
a number of years.


In connection with his appointment as Corporate Secretary, the Company has
granted Mr. Gill options to acquire 200,000 Common Shares. The grant of options
is for a five year term. The options vest immediately and are exercisable at a
price of $0.30 per Common Share.


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

Boe/d means barrel of oil equivalent per day. Boe's may be misleading,
particularly if used in isolation. A boe conversion ratio of 6 mcf:1 bbl is
based on an energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the wellhead.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities laws and may not
be offered or sold within the United States or to United States Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


Neither 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dan Wilson, CEO
Relentless Resources Ltd.
Phone: (403) 532-4466 ext. 227
Mobile: (403) 874-9862
(403) 303-2503 (FAX)
E-mail: info@relentless-resources.com
www.relentless-resources.com


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

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