RRL Resolute Resources Ltd

Relentless Resources Ltd. ("Relentless" or "the Company") (TSX VENTURE:RRL)
announces that it has closed the previously announced non-brokered private
placement offering (the "Offering") of units ("Units"), by issuing 4,285,714
Units at a price of $0.105 per Unit for gross proceeds of $450,000. Each Unit is
comprised of one common share ("Common Share") and one-half of a share purchase
warrant of the Company (a "Warrant"), resulting in the issuance of 4,285,714
Common Shares and 2,142,856 Warrants under the Offering. 


Subject to vesting, each whole Warrant is exercisable into one Common Share
until February 10, 2019, at a price of $0.14 per share. The Warrants vest and
become exercisable as to one-third upon the 20-day weighted average trading
price of the Common Shares (the "Market Price") equaling or exceeding $0.20, an
additional one-third upon the Market Price equaling or exceeding $0.25 and a
final one-third upon the Market Price equaling or exceeding $0.30. 


All securities issued under the Offering, including the Common Shares issuable
upon exercise of the Warrants, are subject to a four-month plus a day hold
period from the date of issuance expiring June 11, 2014, in accordance with
applicable securities laws. There are no finder's fees associated with the
Offering. The Offering is subject to receipt of final acceptance from the TSX
Venture Exchange ("TSXV").


Stock Options

The Company's Board of Directors has approved the issuance of stock options
effective February 11, 2014 to purchase 428,580 Common Shares of the Corporation
at a price of $0.19 per share, exercisable until February 11, 2019. The options
vest immediately and are being issued to officers and directors of the Company
in accordance with the Company's stock option plan. The stock options (and the
common shares issuable thereunder) are subject to a four month plus a day hold
period, expiring June 12, 2014, in accordance in accordance with applicable
securities laws. These stock option grants are subject to final approval of the
TSXV.


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' common shares trade on
the TSX Venture Exchange under the symbol RRL.


Relentless' primary corporate objective is to achieve non-dilutive growth and
enhance shareholder value through internal prospect development, strategic
production acquisitions and prudent financial management.


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.


Reader Advisory

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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Relentless Resources Ltd.
Ron Peshke
President
(403) 532-4466 ext. 223 or Mobile: (403) 852-3403
(403) 303-2503 (FAX)
rpeshke@relentless-resources.com
www.relentless-resources.com


Relentless Resources Ltd.
Dan Wilson
CEO
(403) 532-4466 ext. 227 or Mobile: (403) 874-9862
(403) 303-2503 (FAX)
dwilson@relenteless-resources.com
www.relentless-resources.com

Resolute Resources (TSXV:RRL)
Historical Stock Chart
From May 2024 to Jun 2024

Resolute Resources (TSXV:RRL)
Historical Stock Chart
From Jun 2023 to Jun 2024