Rodinia Minerals Arranges Private Placement
May 10, 2006
Vancouver, British Columbia… Rodinia Minerals Inc. (the “Company”) has arranged a non-brokered private placement consisting of 1,000,000 units at $0.74 per unit, for total proceeds of $740,000. Each unit consists of one common share and one whole transferable share purchase warrant. Each warrant is convertible into one common share at a price of $1.10 for a period of twelve (12) months, subject to the Company’s right to accelerate the expiry date of the warrants if, at any time after 60 days from the closing of the private placement, its shares close above $1.50 per share for 30 consecutive trading days.
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.
A finder’s fee will apply in this transaction in accordance with the policies of the TSX Venture Exchange. The financing is subject to regulatory acceptance.
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.