Rodinia Receives Final TSX Venture Exchange Approval And Closes Private Placement Financing
June 26, 2009
Vancouver, British Columbia … Rodinia Minerals Inc. (“Rodinia” or the “Company”) has received final approval from the TSX Venture Exchange for its previously announced private placement financing (see press released dated
May 29, 2009
). The Company has raised a total of $2.7 million through the issuance of 9,000,000 units (a "Unit") at a price of $0.30 per Unit. Each Unit is comprised of one common share (a "Common Share") of the Company and one share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at a price of $0.40 at any time until
June 25, 2011
.
The Common Shares and the Common Shares issuable upon the exercise of the Warrants are subject to a hold period of four months plus one day which expires on
October 26, 2009
, pursuant to applicable securities legislation.
The Company paid a cash commission to Delano Capital Corp. (“Delano”), Canaccord Capital Corporation and Bolder Investment Partners, Ltd. totalling $155,700 and has issued 519,000 compensation options that will entitle Delano to acquire that same number of Units of the Company at a price of $0.30 until June 25, 2011.
After taking into consideration this private placement, the Company has a total of 34,797,412 common shares issued and outstanding. The Company intends to use the net proceeds of the financing to fund the exploration and development of the Company's properties and for working capital purposes.
ON BEHALF OF THE BOARD
Rodinia Minerals Inc.
Donald Mosher, President
For further information contact: (604) 685-6465
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