TSX VENTURE: RM
OTCQX: RDNAF
Feb 08, 2011 09:29 ET
Rodinia Lithium Inc. Closes CDN$11.5 Million Bought Deal Equity Financing
TORONTO, ONTARIO--(Marketwire - Feb. 8, 2011) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES
Rodinia Lithium Inc. (TSX VENTURE:RM)(OTCQX:RDNAF) ("Rodinia" or the "Company") is pleased to announce that it has closed its previously announced offering, sold by a syndicate of underwriters on a bought deal basis led by Dundee Securities Ltd., and including Byron Securities Limited, Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (collectively, the "Underwriters"). The financing consisted of 19,837,500 units of the Company (the "Units") sold at $0.58 per Unit for gross proceeds of $11,505,750, including the exercise of the Underwriters' over-allotment option for 2,587,500 Units. Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one Common Share at a price of $0.75 any time up until 5:00pm (Toronto time) on August 8, 2012.
The net proceeds raised under the offering will be used for the advancement of the Company's Salar de Diablillos lithium brine projects, the Clayton Valley lithium brine project and for general corporate and working capital purposes.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES
Rodinia Lithium Inc. (TSX VENTURE:RM)(OTCQX:RDNAF) ("Rodinia" or the "Company") is pleased to announce that it has closed its previously announced offering, sold by a syndicate of underwriters on a bought deal basis led by Dundee Securities Ltd., and including Byron Securities Limited, Macquarie Capital Markets Canada Ltd. and Raymond James Ltd. (collectively, the "Underwriters"). The financing consisted of 19,837,500 units of the Company (the "Units") sold at $0.58 per Unit for gross proceeds of $11,505,750, including the exercise of the Underwriters' over-allotment option for 2,587,500 Units. Each Unit is comprised of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one Common Share at a price of $0.75 any time up until 5:00pm (Toronto time) on August 8, 2012.
The net proceeds raised under the offering will be used for the advancement of the Company's Salar de Diablillos lithium brine projects, the Clayton Valley lithium brine project and for general corporate and working capital purposes.