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CALGARY, AB, March 13, 2023 /CNW/ - (TSX: RBY) – Rubellite Energy Inc. ("Rubellite", or the "Corporation") is pleased to announce an insider led non-brokered private placement offering of common shares to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (the "Tax Act") with respect to Canadian development expense (the "Flow-Through Shares"). The Corporation intends to issue up to 7.0 million Flow-Through Shares at an issue price of $2.85 per Flow-Through Share, for gross proceeds of up to approximately $20.0 million (the "Offering"). Certain directors and officers of the Corporation are participating in the Offering and will subscribe for a minimum of approximately $8.0 million of Flow-Through Shares.