Reliance Resources updates TSX and TSX Venture listing status

VANCOUVER, Jan. 21, 2014 /CNW/ - Reliance Resources Limited (TSX: RI) ("Reliance") or ("the Company") announces that further to the Company's News Release dated December 3, 2013, the Company's common shares will be listed and commence trading under its current symbol, "RI", on the TSX Venture Exchange at the opening of trading on Wednesday, January 22, 2014. Computershare Investor Services Inc. will continue as the registrar and transfer agent for the common shares of the Company. The Company's shares will be de-listed from the Toronto Stock Exchange effective after the market close on Tuesday, January 21, 2014.

ON BEHALF OF RELIANCE RESOURCES LIMITED 

Nicholas Clark
President 

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.

SOURCE Reliance Resources Ltd.

please contact Nicholas Clark on +1 864 991 6687

Reliance Announces Results of Annual General and Special Shareholders Meeting

VANCOUVER, Jan. 10, 2014 /CNW/ - Reliance Resources Limited (TSX: RI) ("Reliance") or ("the Company") announces the results of the Company's recently held Annual General and Special Meeting of the Company's shareholders as follows:

• The shareholders voted to fix the number of directors at five, and elected the Board of Directors comprising of Gary Lewis, John Levings, Ian Mitchell, George Young and Dr. Michael Nelson.
  
  
• Manning Elliott LLP, Chartered Accountants, was re-appointed as the Company's auditor.
  
  
• The shareholders approved the Company's new "rolling 10%" Stock Option Plan.
  
  
• The shareholders approved of certain amendments to the Company's Articles by a special resolution.
  
  
• The shareholders approved by a special resolution the Company's proposed share consolidation on the basis of one (1) post-consolidation common share of the Company for every five (5) pre-consolidation common shares of the Company (the "Share Consolidation").

The Board of Directors is authorized to implement the Share Consolidation, subject to stock exchange approval, when and whether it deems appropriate to do so, provided that if the Share Consolidation is not implemented by the Company's next annual general meeting, the resolution approving the Share Consolidation will lapse. The Board of Directors has not yet determined to implement the Share Consolidation, but will announce any decision to do so.

ON BEHALF OF RELIANCE RESOURCES LIMITED

Nicholas Clark
President

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.

SOURCE Reliance Resources Ltd.

please contact Nicholas Clark on +1 864 991 6687

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Reliance updates TSX listing status and announces proposed share consolidation

VANCOUVER, Dec. 3, 2013 /CNW/ - Reliance Resources Limited (TSX: RI) ("Reliance") or ("the Company") provides the following updates. 

On October 17, 2013, the Company announced that the TSX placed the Company under review for not meeting the TSX's continued listing requirements due to the Company's trading price, market capitalization and lack of sufficient independence at the Board and executive levels. 

The Company has since addressed the deficiencies at the Board and executive levels by appointing two new independent directors, George Young and Michael Nelson, as announced on October 23, 2013 and November 26, 2013, respectively, and appointing a new Chief Financial Officer, Kevin Kye, as announced on October 18, 2013. 

Given the current market conditions and the TSX's ongoing review of the Company for not meeting the TSX's minimum market capitalization requirements and trading price, the Company has determined that it is in its best interests to seek a transfer listing from the TSX to the TSX Venture Exchange ("TSX-V"). Accordingly, the Company has applied to the TSX-V to transfer the listing of the Company's common shares (the "Common Shares") onto the TSX-V under the streamlined procedures of the TSX-V. 

The Company also announces that it will be seeking shareholder approval to consolidate the Company's issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the "Share Consolidation"). The Company has called an annual general and special meeting of shareholders to be held on December 30, 2013 (the "Meeting") for the purposes of approving, among other things, the proposed Share Consolidation. The proposed Share Consolidation is also subject to the approval of the TSX-V. 

It is management's view that the Share Consolidation will benefit the Company by increasing investor interest, improving trading liquidity and improving the Company's ability to raise additional capital and at a higher price per share. 

The Company has an aggregate of 122,152,099 Common Shares issued and outstanding. Upon completion of the Share Consolidation, the Company will have an aggregate of approximately 24,430,419 Common Shares issued and outstanding. If the Share Consolidation is approved by the shareholders at the Meeting, the Board of Directors will be authorized to implement the Share Consolidation when and whether it deems it appropriate to do so, provided that if the Share Consolidation is not implemented by the next annual general meeting, the resolution approving the Share Consolidation will lapse. 

Neither the TSX Venture Exchange nor its Régulation 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.

 

SOURCE Reliance Resources Ltd.

For further Information please contact Nicholas Clark on +1 864 991 6687

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Reliance Resources Ltd Appoints Experienced North American Resources Executive as Non-Executive Directo

• George Young joins Reliance Board as Non-Executive Director
• Appointment strengthens skills and Board presence in North America
• RI actively assessing project and growth opportunities in North America

VANCOUVER, Oct. 23, 2013 /CNW/ - Reliance Resources Limited (TSX: RI) ("Reliance") or ("the Company") is pleased to announce the appointment of a seasoned mining executive to the Board of Directors with Mr George Young joining Reliance as non-executive director.

With a Bachelor of Science in Metallurgical Engineering from the University of Utah, and a J.D. from the University of Utah College of Law, Mr Young has over 35 years' experience in the mining industry starting his career as a metallurgist at Kennecott Copper Corp. in Utah in 1975. He is a former Chair of the Utah Section of the Society of Mining Engineers and a member (inactive) of the State Bar Associations of Colorado, Utah, and Texas.

Mr Young is currently a Director of Lion One Metals Ltd. Prior positions include Vice President and Director of International Royalty Corp. (2003-2008); President of MAG Silver Corp. (2002-2005). Mr Young also previously served as General Counsel and Acting General Manager of the Intermountain Power Agency (1984-1988); General Counsel of Bond International Gold Inc. (1988-1990); Director of Operations of American Resource Corporation, (1990-1993); Vice President of Canyon Resource Corporation (1993-1996); and President and CEO of Oro Belle Resources Ltd (1996-1998).

Mr Young has undertaken to assist the company in its commercial negotiations as the company assesses a number of growth opportunities in North America. He will work closely with Reliance's President Nicholas Clark in strengthening the company's project portfolio and driving a growth strategy that delivers improved outcomes for shareholders.

Reliance's Non-Executive Chairman Mr Gary Lewis commented: "We are delighted to have attracted George Young to the Board of Reliance. He brings unrivalled resource sector expertise to the company and a strong network in North America which will be invaluable as we take the next step in the company's growth.

"We are working hard for all shareholders to rebuild value in Reliance, and this involves assessing options for our Indonesian assets, as well as reviewing suitable corporate and project acquisition opportunities in North America. In the current market there are a number of undervalued projects and we intend to capitalise on weak markets and sentiment.

George Young added: "Reliance has a strong foundation to build a valuable resources business, and the company's TSX status underpins this foundation. I am looking forward to working with the Board and management team to create real value for shareholders."
SOURCE Reliance Resources Ltd.

Nicholas Clark
Email: nc@relianceresources.com.au 
Ph: +1 864 991 6687
Copyright CNW Group 2013

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Reliance Resources Limited - TSX Delisting Review

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.

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. 

RELIANCE RESOURCES LIMITED
NICHOLAS CLARK
[President]
SOURCE Reliance Resources Ltd.

Nicholas Clark
nc@relianceresources.com.au
+1 864 991 6687
Copyright CNW Group 2013

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