Rubellite Energy Inc.'s Board of Directors (the "Board") has been fully constituted and is comprised of a majority of independent directors, each of whom is unique from Perpetual's board, establishing a strong and diverse governance model and clear shareholder and management alignment. The majority-independent Board has extensive technical and managerial experience in oil and gas exploration and development, with strengths in mergers and acquisitions, corporate finance, capital markets and environmental, social and governance (ESG) matters. The company named Ryan Shay as Chief Financial Officer.