RB Energy Inc. (fka RBEIF)

[Doubledown22]

RB Energy Announces $22 Million Bought Deal Equity Financing

http://www.marketwired.com/printer_friendly?woid=942126&&segid=3

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 28, 2014) -

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

RB Energy Inc. (the "Company" or "RBI" or "RB Energy") (TSX:RBI)(OTCQX:RBEIF) is pleased to announce that it has entered into an agreement for a $22,032,000 equity financing with 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 have agreed to purchase, 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 after the closing of the Offering. 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 Offering is scheduled to close on or about May 21, 2014. The Shares will be offered in all provinces of Canada (except Quebec) by way of a short form prospectus. The Offering is subject to a number of conditions, including receipt of the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The net proceeds will be used for the Company's commissioning and development activities and the 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

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 Quebec Lithium Project near Val d'Or, the geographical heart of the Quebec mining industry. The Aguas Blancas mine is currently in production. The Quebec 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 http://www.sedar.com/.


Awesome...another 32 MILLION shares sold/Diluted into the Outstanding Share count so the company can keep the lights on and pay for their half-ass, money pit operation.

That's the only thing this company can run competently--a Big MONEY PIT. They had that commissioned and running wide open from the earliest stages...LMFAO.

I bet the offtake partners are thinking WTF????? is wrong with these people. Japanese and Chinese are not the types to put up with delay after delay...they need their material.

DD22