Non-brokered deal sells flow-through common shares and common shares
By Devika Patel
Knoxville, Tenn., Dec. 8 – Relentless Resources Ltd. said it will conduct a C$2 million non-brokered private placement of stock.
The company will sell 3,703,704 flow-through common shares at C$0.27 apiece and 4,444,445 common shares at C$0.225 apiece. The prices per share are 22.73% and 2.27% premiums, respectively, to C$0.22, the Dec. 5 closing share price.
Proceeds will be used for capital expenditures.
Relentless, a junior oil and natural gas company, is based in Calgary, Alta.
| Issuer: | Relentless Resources Ltd.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$2 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 8
|
| Stock symbol: | TSX Venture: RRL
|
| Stock price: | C$0.22 at close Dec. 5
|
| Market capitalization: | C$6.61 million
|
|
|
| Flow-through stock
|
| Amount: | C$1 million
|
| Shares: | 3,703,704
|
| Price: | C$0.27
|
|
|
| Common stock
|
| Amount: | C$1 million
|
| Shares: | 4,444,445
|
| Price: | C$0.225
|
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