Deal's proceeds used to complete a horizontal oil well in Saskatchewan
By Devika Patel
Knoxville, Tenn., Oct. 6 - Relentless Resources Ltd. said it plans a C$1 million non-brokered private placement of stock.
The company will sell 2.5 million flow-through common shares at C$0.40 apiece. The per share price represents a 14.29% premium to C$0.35, the closing share price on Oct. 5.
Proceeds will be used to complete a horizontal oil well on the company's lands in Saskatchewan.
Relentless, a junior oil and natural gas company, is based in Calgary, Alta.
| Issuer: | Relentless Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1 million
|
| Shares: | 2.5 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 6
|
| Stock symbol: | TSX Venture: RRL
|
| Stock price: | C$0.35 at close Oct. 5
|
| Market capitalization: | C$9.24 million
|
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