Non-brokered deal sells flow-through common shares at C$0.16 per share
By Devika Patel
Knoxville, Tenn., Dec. 16 – Relentless Resources Ltd. said it will conduct a C$1 million non-brokered private placement of stock.
The company will sell 6.25 million flow-through common shares at C$0.16 apiece. The price per share is a 77.78% premium to C$0.09, the Dec. 15 closing share price.
Proceeds will be used for the company's 2016 capital expenditure program.
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: | 6.25 million
|
| Price: | C$0.16
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: RRL
|
| Stock price: | C$0.09 at close Dec. 15
|
| Market capitalization: | C$5.8 million
|
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