RB Energy Inc.

RB Energy Inc.

September 16, 2014 12:47 ET

RB Energy Provides Update on TSX Listing Review

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2014) -


RB Energy Inc. (the "Company" or "RBI") (TSX:RBI) (OTCQX:RBEIF) is pleased to provide an update regarding its proposed private placement of a minimum of C$78 million and a maximum of C$88 million in secured convertible debentures (the "Offering").

In the Company's September 15, 2014 press release announcing the Offering, the Company disclosed that it had applied to the Toronto Stock Exchange (the "TSX") for, and expected to receive, an exemption (the "Exemption") from the requirement to seek shareholder approval for the Offering on the basis that the Company finds itself in a state of financial hardship and that the Offering is designed to address these financial difficulties in a timely manner.

As disclosed in the September 15, 2014 press release, when the Exemption is relied on, the TSX automatically initiates a review of the Company to ensure that it is in compliance with all of the TSX continued listing requirements. The TSX announced such a review of the Company today. The review will be based on the Company's financial condition which RBI believes will be addressed upon the closing of the Offering. Assuming the Offering closes as anticipated, the Company expects to successfully address the requirements of the TSX's listing review well within the 120 day timeline required by regulation.

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 completion of the Offering, anticipated use of proceeds, reliance on the Exemption and statements regarding our ability to complete commissioning activities, achieve and sustain commercial production and name-plate production levels of Lithium 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 information 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 statements 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 is based include, among other things, completion of the Offering; anticipated use of proceeds; reliance on the Exemption; 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; the Company's ability to achieve and sustain name-plate commercial production; 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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