Reliable Energy Ltd. Announces Closing of $15 Million Bought-Deal Financing

- May 27th, 2010

Reliable Energy Ltd. (TSX VENTURE:REL) reported that the company has completed the issuance of 30,000,000 special warrants at a price of $0.30 per Special Warrant and 16,500,000 common shares of the Company issued on a “flow-through” basis, at a price of $0.365 per FT Share, for aggregate gross proceeds of $15 million.

Reliable Energy Ltd. (TSX VENTURE:REL) reported that the company has completed the issuance of 30,000,000 special warrants at a price of $0.30 per Special Warrant and 16,500,000 common shares of the Company issued on a “flow-through” basis, at a price of $0.365 per FT Share, for aggregate gross proceeds of $15 million.

The press release is quoted as saying:

Reliable is an Alberta based junior oil and gas exploration and production company that commenced operations in 2005. Reliable’s activities are primarily focused in the Kirkella area situated on the Saskatchewan/Manitoba border.

Click here to access the entire press release

Click here to access Reliable Energy Corporate Site

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