Relentless raises C$500,000 in C$2.85 million stock placement

Non-brokered deal sells flow-through shares and common shares

By Toni Weeks

San Luis Obispo, Calif., Dec. 18 – Relentless Resources Ltd. said it completed the second tranche of a non-brokered private placement of stock, raising another C$500,040. The deal priced for C$2 million on Dec. 8 and raised C$2.35 million on Dec. 12.

The company sold 1,852,000 flow-through common shares at C$0.27 per share in the second tranche. It sold 4,930,740 flow-through common shares at the same price and 4,513,890 common shares at C$0.225 apiece in the first tranche. 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$2,846,965
Warrants:	No
Agent:	Non-brokered
Pricing date:	Dec. 8
Settlement dates:	Dec. 12 (for C$2,346,925), Dec. 18 (for C$500,040)
Stock symbol:	TSX Venture: RRL
Stock price:	C$0.22 at close Dec. 5
Market capitalization:	C$6.01 million
Flow-through stock
Amount:	C$1,831,340
Shares:	6,782,740
Price:	C$0.27
Common stock
Amount:	C$1,015,625
Shares:	4,513,890
Price:	C$0.225

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