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TSX-Venture Exchange: RRL
CALGARY, April 11, 2018 /CNW/ - Relentless Resources
Ltd. ("Relentless" or the "Company") is pleased
to announce the appointment of four new officers of the Company.
Effective as of April 11, 2018,
Relentless appointed Stanley J.
Swiatek as Chief Executive Officer, Craig Kolochuk as President, Jeff Swainson as Chief Financial Officer and
Tara Johnson-Ouellette as Vice
President, Compliance and Regulatory Affairs.
Mr. Swiatek is the former Chief Executive Officer and a current
member of the board of directors of Sundial Growers. Mr.
Swiatek was an early Applicant (78th) under Health Canada's Access
to Cannabis for Medical Purposes Regulations (ACMPR). Mr. Swiatek
is a founder of Sundial Growers and was instrumental in building it
into the second largest Licensed Producer in Alberta, with operations also in British Columbia. Mr. Swiatek is a stakeholder
that worked with the Alberta Provincial Government Cannabis
Roundtable, as well as the Health Canada Cannabis Roundtable. He
has over 40 years' experience in construction, development and
commercial greenhouse agricultural operations. In December 2017, Mr. Swiatek joined the board of
directors of Grunewahl Organics, a Pre-licensed Health Canada
Applicant. In March 2018, Mr. Swaitek
joined the board of directors of Relentless.
Mr. Kolochuk has 20 years of experience in the Canadian oil and
gas industry, holding roles in land, business development,
acquisitions and divestitures, and management. He was a co-founder
of Cardinal Energy Ltd. and played a significant role in acquiring
over $800 million of high quality oil
and gas assets, ultimately building a publicly traded, dividend
paying entity with a market capitalization of nearly $1 billion at its peak.
Mr. Swainson has 10 years of public company accounting, finance,
business development and capital markets experience. He began his
career with an international accounting firm and, after receiving
his Chartered Accountant designation, transitioned into the oil and
gas industry. Mr. Swainson was most recently the Chief Financial
Officer and Corporate Secretary of a high growth Montney focused exploration and production
company, which grew to a market capitalization of approximately
$400 million at its peak.
Mrs. Johnson-Ouellette has 20 years of experience in regulatory
and compliance, project execution, and business process management.
She has spent most of her career in the oil and gas industry,
predominantly with start-up companies. She transitioned into
the cannabis space in late 2015, working as Manager of Operations
for Sundial Growers.
Mr. Swiatek replaces Dan Wilson
as Chief Executive Officer. Mr. Wilson will continue to serve as
Chairman of Board of Directors of the Company and, effective as of
April 11, 2018, Mr. Wilson was
appointed as Vice President, Oil & Gas Operations.
Mr. Swainson replaces Hugh
Thomson as Chief Financial Officer. Effective as of
April 11, 2018, Mr. Thomson was
appointed as Vice President, Finance - Oil & Gas
Operations.
The Company also announces that, pursuant to the terms and
conditions of its stock option plan, it has granted, in the
aggregate, 9,750,000 stock options to directors and officers of the
Company. The options expire five years from the date of grant and
each option will allow the holder to purchase one common share in
the capital of the Company ("Common Shares"). The options
vest immediately and are exercisable at a price of $0.1425 per Common Share.
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 TSXV 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. The Company looks to pursue the corporate
objective by developing a diversified portfolio which will include
a cannabis-focused investment strategy.
Forward Looking and Cautionary Statements
This news release may include forward-looking statements
including opinions, assumptions, estimates, the Company's
assessment of future plans and operations, and, more particularly,
statements concerning Relentless' investment strategy and the
ability to exercise thereon. When used in this document, the words
"will," "anticipate," "believe," "estimate," "expect," "intent,"
"may," "project," "should," and similar expressions are intended to
be among the statements that identify forward-looking statements.
The forward-looking statements are founded on the basis of
expectations and assumptions made by the Company which include, but
are not limited to, the timing of the receipt of the required
regulatory and third party approvals. Forward-looking statements
are subject to a wide range of risks and uncertainties, and
although the Company believes that the expectations represented by
such forward-looking statements are reasonable, there can be no
assurance that such expectations will be realized. Any number of
important factors could cause actual results to differ materially
from those in the forward-looking statements including, but not
limited to: regulatory and third party approvals not being obtained
in the manner or timing anticipated; the ability to implement
corporate strategies; the state of domestic capital markets; the
ability to obtain financing; changes in general market conditions;
industry conditions and events; the size of the medical marijuana
market and the recreational marijuana market; government
regulations, including future legislative and regulatory
developments involving medical and recreational marijuana;
competition from other industry participants; and other factors
more fully described from time to time in the reports and filings
made by the Company with securities regulatory authorities.
Except as required by applicable laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statements.
Neither 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.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United
States or to United States Persons unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
SOURCE Relentless Resources Ltd.
