Rodinia Lithium Announces Increase to Private Placement Financing
25 March 2014 - 12:13AM
Marketwired
Rodinia Lithium Announces Increase to Private Placement Financing
TORONTO, ONTARIO--(Marketwired - Mar 24, 2014) - Rodinia Lithium
Inc. ("Rodinia" or the "Company") (TSX-VENTURE:RM)(OTCQX:RDNAF),
announces that due to strong response from investors, the Company
has increased its non-brokered private placement financing to
$875,000 from its initially targeted $500,000 financing, announced
on March 10, 2014. The increased financing will be completed
through the issuance of 17,500,000 units of the Company (the
"Units") at a price of $0.05 per Unit for gross proceeds of
$875,000. Each Unit shall consist of one common share of the
Company (a "Common Share") and one common share purchase warrant
(each a "Warrant"), entitling the holder to acquire a Common Share
at $0.10 for a period of 24 months from the date of issuance.
The Company intends to use the net proceeds to continue
development of its Salar de Diablillos lithium-potash property
located in Salta Province, Argentina and for general working
capital purposes.
The Company may, subject to additional interest received,
increase the size of the private placement to include other
existing and new accredited investors.
The Common Shares, Warrants and shares underlying the Warrants
will be subject to a four month and one day statutory hold period.
Closing of the private placement transaction remains subject to the
receipt of all regulatory approvals, including the approval of the
TSX Venture Exchange. The private placement will be non-brokered;
however, the Company may pay finder's fees in accordance with the
rules and policies of the TSX Venture Exchange.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and
development company with a primary focus on Lithium exploration and
development in Argentina. The Company is also actively exploring
the commercialization of a significant Potash co-product that is
expected to be recoverable through the lithium harvesting
process.
Please visit the Company's web site at www.rodinialithium.com or
write us at info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the
information in this press release may be deemed to constitute
"forward-looking information" within the meaning of Canadian
securities law. Such forward-looking information may include,
without limitation, statements (express or implied) regarding the
private placement financing, anticipated timing and results of the
development of the Diablillos property and the ability of the
Company to complete a strategic transaction. There can be no
assurance that such statements (express or implied) will prove to
be accurate, and actual results and future events could differ
materially from such statements. Investors are cautioned not to put
undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the
Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
NEITHER THE
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.
Rodinia Lithium Inc.Aaron WolfeVice-President, Corporate
Development+1 (416)
309-2696info@rodinialithium.comwww.rodinialithium.com
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