Rodinia minerals Closes Private Plcement
January 10, 2006
Vancouver, British Columbia… Rodinia Minerals Inc. (the “Company”) is pleased to announce that it has completed its previously announced non-brokered private placement. The Company has received gross proceeds of $592,000 on the private placement of 800,000 units (the “Units”) at a price of $0.74 per unit. Each Unit consists of one common share and one whole transferable share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $1.10 on or before January 3, 2007, subject to the Company’s right to accelerate the expiry date of the warrants if at any time after March 4, 2006 its shares close above $1.50 per share for 30 consecutive trading days. The Company paid a commission by issuing 70,135 Units.
Proceeds of the financing will be used for general exploration expenditures on the Company’s Workman Creek uranium deposit in Gila County, Arizona and for general working capital.
In accordance with applicable securities laws, all securities issued in connection with the private placement are subject to a hold period expiring May 4, 2006.
ON BEHALF OF THE BOARD
(sgd.) “Donald Morrison”, President
For further information, please contact Don Mosher, Director
Tel: (604) 685-6465
Fax: (604) 685-9744
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.