/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
CALGARY,
AB, March 29, 2022 /CNW/ - (TSX:
RBY) Rubellite Energy Inc. ("Rubellite" or the "Company"), a
pure play Clearwater oil
exploration and development company, is pleased to announce it has
closed its previously announced upsized bought deal and
non-brokered private placement financings of common shares (the
"Common Shares") for aggregate gross proceeds of $38,744,061.
Pursuant to the bought deal offering (the "Offering"), Rubellite
issued 7,130,000 Common Shares, including 930,000 Common Shares
issued pursuant to the exercise in full of the over-allotment
option granted to the underwriters. The Common Shares were issued
at a price of $3.55 per Common Share
for total gross proceeds of $25,311,500. The Offering was made through a
syndicate of underwriters led by Peters & Co. Limited that
included BMO Nesbitt Burns Inc., ATB Capital Markets Inc., Stifel
Nicolaus Canada Inc., Cormark Securities Inc. and Raymond James
Ltd.
Concurrently with the Offering, Rubellite also closed a
non-brokered private placement in which certain directors, officers
and employees of the Company and Perpetual Energy Inc. and their
respective associates and relatives purchased 3,783,820 Common
Shares at a price of $3.55 per Common
Share for gross proceeds of $13,432,561.
About Rubellite
Rubellite is a Canadian energy company engaged in the
exploration, development and production of heavy crude oil from the
Clearwater formation in
Eastern Alberta, utilizing
multi-lateral drilling technology. Rubellite has a pure play
Clearwater asset base and is
pursuing a robust growth plan focused on superior corporate returns
and free funds flow generation while maintaining a conservative
capital structure and prioritizing ESG excellence. Additional
information on Rubellite can be accessed at the Company's website
at www.rubelliteenergy.com and on SEDAR at www.sedar.com.
The Toronto Stock Exchange has neither approved nor disapproved
the information contained herein.
SOURCE Rubellite Energy Inc.