CALGARY, ALBERTA–(Marketwired – May 13, 2016) – Relentless Resources Ltd. (“Relentless” or the “Company“) (TSX VENTURE:RRL) announces that its existing banker has renewed the Company’s credit facility with an amended borrowing base of $3 million, of which $2.55 million is currently drawn.
The loan is a revolving term facility and bears interest at Prime plus 1.5% per annum.
The demand facilities are subject to annual review, provided that the first such review date shall not occur prior to May 31, 2017.
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 THE 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.
Dan Wilson
CEO
(403) 532-4466 ext. 227
Mobile: (403) 874-9862
Relentless Resources Ltd.
Ron Peshke
President
(403) 532-4466 ext. 223
Mobile: (403) 852-3403
Relentless Resources Ltd.
Fax: (587) 955-9668
[email protected]
www.relentless-resources.com
