SYDNEY, Australia, Oct. 17, 2013 /CNW/ - Reliance Resources Limited
(TSX: RI) ("Reliance" or the "Company") advises that as announced by
the TSX today, it has been placed under review with respect to meeting
the continued listing requirements of the TSX due to the Company's
current trading price, failure to meet minimum market capitalization
requirements and lack of sufficient independence at the Board and
executive levels.
RELIANCE RESOURCES LIMITED
NICHOLAS CLARK
[President]
SOURCE Reliance Resources Ltd.
Nicholas Clark
The Company advises that it is in the process of rectifying the
deficiencies at the Board and executive management levels which will be
announced shortly. With reference to the Company's market
capitalization and trading price, the Company is actively pursuing
opportunities which it anticipates will rectify this and will advise as
developments arise.
The Company is in discussions with the TSX regarding the foregoing and
fully intends to meet the continued listing requirements of the TSX
within the 120-day timeline.
NICHOLAS CLARK
[President]
SOURCE Reliance Resources Ltd.
nc@relianceresources.com.au
+1 864 991 6687
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