Rugby Mining Announces Extension and Repricing of Warrants

VANCOUVER, British Columbia, March 25, 2019 (GLOBE NEWSWIRE) -- Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG) announces that subject to the acceptance by the TSX Venture Exchange, the Company has amended the terms to 6,270,714 outstanding share purchase warrants (the “Warrants”) issued upon the closing of a financing announced May 22, 2018.

The exercise price of the Warrants is reduced from $0.50 per common share to $0.35 per common share and the expiry date extended until May 18, 2020 subject to the exercise acceleration noted below.

In accordance with TSX Venture Exchange Policy 4.1, the Warrants will be subject to an acceleration clause: should the closing price of the common shares of the Company on the TSX Venture Exchange be $0.50 or higher for five consecutive trading days, the Company must accelerate the expiry of the Warrants to the date that is 20 business days from the date of the issuance of a news release by the Company announcing the exercise of the acceleration right.

For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com

RUGBY MINING LIMITED
Paul Joyce
President and CEO
For further information, please contact:

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE