Business
RUBELLITE ENERGY INC. ANNOUNCES ROYALTY SALE AND RISK MANAGEMENT UPDATE
RUBELLITE ENERGY INC. ANNOUNCES ROYALTY SALE AND RISK MANAGEMENT UPDATE Canada NewsWire...
About this update from Rubellite Energy Corp.
[{"type":"text","content":"\n \n \n \n RUBELLITE ENERGY INC. ANNOUNCES ROYALTY SALE AND RISK MANAGEMENT UPDATE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen5{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen6{\nPADDING-RIGHT:0.33em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /CNW/ - (TSX: RBY) – Rubellite Energy Inc. (\"Rubellite\", or the \"Company\"), a pure play\n \n Clearwater\n \n oil exploration and development company, is pleased to announce that it has closed an agreement with Source Rock Royalties Ltd. (TSXV: SRR - the \"Purchaser\") for the sale of a gross overriding royalty (\"GORR\") on certain lands within the Figure Lake and Edwand areas (the \"GORR Transaction\"), and to provide an update on the Company's other recent risk management activities.\n \n \n \n GORR TRANSACTION\n \n \n \n The GORR Transaction provides for a 1.5% non-convertible GORR to the Purchaser in exchange for cash consideration of\n \n $8.0 million\n \n , reve...