Rugby Resources Ltd. announces non-brokered private placement of 8,333,333 units at an issue price of CAD 0.06 per unit for gross proceeds of CAD 500,000 on February 7, 2024. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of two years from the date of the close at an exercise price of CAD 0.10.

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. The transaction has been approved by the board of directors of the company. Closing of the Offering is subject to receipt of all necessary regulatory approvals.