RB Energy Receives Initial Order Under CCAA

VANCOUVER, CANADA--(Marketwired - Oct. 15, 2014) - RB Energy Inc. (the "Company" or "RBI") (TSX:RBI)(OTCQX:RBEIF) announces that the Quebec Superior Court has issued an Amended and Restated Initial Order in respect of the Company and certain of its subsidiaries under the Companies' Creditors Arrangement Act (the "CCAA"). The Company is now under the protection of the Court.

The Company also advises that Hale Capital Partners, L.P. has agreed to provide debtor-in-possession ("DIP") financing to RBI, which is expected to provide the Company with up to US$13 million of available capital during the CCAA proceedings. Advances under the DIP will be available after approval by the Court. The Company expects to receive the first advance of US$6 million under the DIP on or before Friday, October 17, 2014. The proceeds of the DIP financing are expected to be sufficient to permit the Company to meet its ongoing obligations during the restructuring process.

KPMG LLP has been appointed monitor under the Court Order. RBI management will remain responsible for the day-to-day operations of the Company, subject to the terms of the Court Order.

The Company will provide further updates as developments occur.

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. 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 receipt of DIP financing and availability of funds thereunder, sufficient liquidity for ongoing operations, the CCAA proceedings and creditor protection 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, the Company's ability receive the DIP financing and related funds, sufficient liquidly to continue operations, the outcome of subsequent CCAA proceedings and creditor protection. 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