VANCOUVER, July 18, 2012 /CNW/ - Reliance Resources Limited (the
"Company") announces the completion, subject to the final acceptance of
the Toronto Stock Exchange, of the second tranche of its non-brokered
private placement (the "Private Placement") announced by the Company on
June 22, 2012 issuing an aggregate of 4,627,627 common shares in the
capital of the Company (the "Shares") at a price of $0.15 per Share for
gross proceeds of approximately $694,144.
The Shares issued in this tranche are subject to a four month hold
period expiring on November 19, 2012.
Proceeds from the Private Placement will be used to fund the Company's
Indonesian Gold projects and for working capital.
On behalf of the Board of Directors of Reliance Resources Limited.
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and
so involve inherent risks and uncertainties, as disclosed under the
heading "Risk Factors" in the company's periodic filings with Canadian
securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any
SOURCE Reliance Resources Ltd.
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Scott Emerson, President
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