Reliance Resources Limited - Completes Second Tranche of Non-Brokered Private Placement

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 forward-looking statement.

SOURCE Reliance Resources Ltd.

For further information:

Media Information, contact: 
Scott Emerson, President 
se@relianceresources.com 

Investor Information, contact:
Mike Kordysz,
mk@relianceresources.com

Profil de l'entreprise

Reliance Resources Ltd.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.