Rugby Announces CAD$1,000,000 Non-brokered Private Placement

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Vancouver, B.C., June 22, 2023 (GLOBE NEWSWIRE) — Rugby Resources Ltd. (“Rugby” or the “Company”) (TSX-V: RUG) announces that its board of directors has approved a proposed private placement offering of up to 20,000,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of up to $1,000,000 (the “Offering”).

Each Unit will consist of one (1) common share and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one (1) additional common share of the Company for a period of two (2) years from the date of the close at an exercise price of $0.15.

All securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. Closing of the Offering is subject to receipt of all necessary regulatory approvals.  

Proceeds of the Offering will be used for exploration and general expenses.

For additional information you are invited to visit the Rugby Resources Ltd. website at www.rugbyresourcesltd.com

Rob Grey, VP, Corporate Communications

Tel:  604-688-4941  Fax: 604-688-9532

Toll-free: 1.855.688.4941

Suite 810, 789 West Pender St.

Vancouver, BC Canada. V6C 1H2

[email protected]

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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