RB Energy Inc.

TSX : RBI
OTCQX : RBEIF


RB Energy Inc.

May 21, 2014 08:52 ET

RB Energy Closes $22 Million Bought Deal Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OF FOR DISSEMINATION IN THE UNITED STATES

RB Energy Inc. (the "Company" or "RBI") (TSX:RBI)(OTCQX:RBEIF) is pleased to announce that it has closed the bought deal equity financing previously announced on April 28, 2014 for aggregate gross proceeds to the Company of $22,032,000. The financing was underwritten by Dundee Securities Ltd. and Scotiabank as co-lead underwriters on behalf of a syndicate including GMP Securities L.P. and Euro Pacific Canada Inc. (collectively, the "Underwriters").

The Underwriters purchased, on a "bought deal" basis by way of a short form prospectus, 32,400,000 common shares of the Company (the "Shares") at a price of $0.68 per Share (the "Offering"). The Underwriters have been granted the option to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days from the date hereof. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds of the Offering will be $25,336,800.

The net proceeds are intended to be used for the Company's commissioning and development activities and ongoing financial obligations related to its Québec Lithium Project and for general working capital purposes.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About RB Energy Inc.

RBI is a Canadian company formed pursuant to the arrangement involving Sirocco Mining Inc. and Canada Lithium Corp. It currently owns Aguas Blancas, an iodine producing mine in northern Chile, and the Québec Lithium Project near Val d'Or, the geographical heart of the Québec mining industry. The Aguas Blancas mine is currently in production. The Québec Lithium Project has completed construction and is in the commissioning phase. For more information regarding RBI, please refer to its public filings available at www.sedar.com.

Forward-Looking Statements

Certain information contained in this news release, including any information relating to the use of proceeds and statements regarding our ability and the timing to achieve and sustain commercial production and name-plate production levels of iodine are "forward-looking statements". These forward-looking statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of RBI. These forward-looking statements also reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. The estimates and assumptions of RBI underlying the forward-looking statements in this news release may prove to be incorrect. Assumptions upon which such forward looking information include, among other things, successful and timely commissioning, ramp-up and production at the Québec Lithium Project; the lack of any further significant capital expenditures during the commissioning stage or to bring the hydrometallurgical process plant into production; the continuing support and cooperation of RBI's off-take partners; as well as financial predictions premised on such assumptions. Although the Company believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. RBI expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

On behalf of the Board,

Richard P. Clark, President and CEO

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