RB Energy Fails to Secure Funding to Maintain Current Operations

RB Energy (TSX:RBI,OTCQX:RBEIF) announced that it has failed to secure funding require to maintain its current operations. Because of that, it has halted operations at its Quebec lithium project and temporarily laid off all employees other than those needed to maintain the project on a care and maintenance basis.

According to the press release:

[RB Energy] has not secured the funding required to maintain current operations.

As a result, and in an effort to curtail costs, the Company has halted operations at its Quebec Lithium Project and has temporarily laid off all employees other than those employees required to maintain the Quebec Lithium Project on a care and maintenance basis.

The Company also announces that Messrs. Ron Hochstein, Robert Chase and Pablo Mir have resigned as directors of the Company. The Company’s board of directors is now comprised of Messrs. Kerry Knoll, Richard Clark, Simon Jackson, Peter Secker, Stephane Bertrand and Ian MacDonald.

Click here to read the RB Energy Inc. (TSX:RBI,OTCQX:RBEIF) press release