Rubellite Energy Inc. Financing

This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.

CALGARY, AB, March 28, 2023 /CNW/ – Dreamworks Investment Holdings Ltd. (“Dreamworks“) and Susan L. Riddell Rose (“S. Rose“) has acquired an aggregate of 3,514,600 common shares (“Common Shares“) of Rubellite Energy Inc. (“Rubellite“) at a price of $2.85 per Common Share for aggregate consideration of $10,016,610.

The Common Shares were acquired by Dreamworks and S. Rose in connection with a non-brokered private placement completed by Rubellite on March 28, 2023 consisting of an aggregate of 7,000,000 Common Shares issued on a “flow-through” basis at $2.85 per Common Share for aggregate proceeds of $19,950,000 (the “Transaction“).

The 3,514,600 Common Shares acquired by Dreamworks and S.Rose pursuant to the Transaction constitute approximately 5.68% of the 61,826,366 outstanding Common Shares.

Dreamworks is a company controlled by S. Rose.  Prior to the Transaction, S. Rose owned, or controlled or directed, 17,056,336 Common Shares, representing approximately 31.11% of the outstanding Common Shares.  Following the Transaction, S. Rose owns, or controls or directs, 20,570,936 Common Shares, representing approximately 33.27% of the outstanding Common Shares. S. Rose does not own, or control or direct any options or warrants to acquire Common Shares which are vested or vest within 60 days.

The Transaction was conducted for investment purposes.

For inquiries or a copy of the related early warning report in respect of Rubellite, a copy of which is filed on www.sedar.com, please contact:

SOURCE Dreamworks Investment Holdings Ltd.

 

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