diff --git a/CHANGES.txt b/CHANGES.txt
index d5d5ef11..a7399982 100644
--- a/CHANGES.txt
+++ b/CHANGES.txt
@@ -1,5 +1,8 @@
 CHANGES
 
+7.1.3 (Jul 31, 2020)
+- Updated rake development dependency to ~> 12.3.3
+
 7.1.2 (Jun 15, 2020)
 - Fixed uninitialized constant LocalhostSplitStore::YAML for console apps.
 - Updated default_streaming_enabled to true.
diff --git a/lib/splitclient-rb/version.rb b/lib/splitclient-rb/version.rb
index a459aa56..702db30b 100644
--- a/lib/splitclient-rb/version.rb
+++ b/lib/splitclient-rb/version.rb
@@ -1,3 +1,3 @@
 module SplitIoClient
-  VERSION = '7.1.2'
+  VERSION = '7.1.3'
 end
diff --git a/splitclient-rb.gemspec b/splitclient-rb.gemspec
index dba091e7..38c40c60 100644
--- a/splitclient-rb.gemspec
+++ b/splitclient-rb.gemspec
@@ -13,7 +13,7 @@ Gem::Specification.new do |spec|
   spec.summary       = 'Ruby client for split SDK.'
   spec.description   = 'Ruby client for using split SDK.'
   spec.homepage      = 'https://github.com/splitio/ruby-client'
-  spec.license       = 'Apache 2.0'
+  spec.license       = 'Apache-2.0'
 
   spec.files         = `git ls-files -z`.split("\x0").reject { |f| f.match(%r{^(spec|features|ext)/}) }
 
@@ -40,7 +40,7 @@ Gem::Specification.new do |spec|
   spec.add_development_dependency 'bundler', '~> 1.11'
   spec.add_development_dependency 'pry'
   spec.add_development_dependency 'pry-nav'
-  spec.add_development_dependency 'rake', '~> 10.0'
+  spec.add_development_dependency 'rake', '12.3.3'
   spec.add_development_dependency 'rake-compiler'
   spec.add_development_dependency 'rspec'
   spec.add_development_dependency 'rubocop', '0.59.0'