TORONTO, ONTARIO -- (Marketwire) -- 06/15/10 -- Rodinia Minerals Inc. ("Rodinia" or the "Company") (TSX VENTURE: RM)(OTCQX: RDNAF), is pleased to announce that shareholders of the Company have approved the name change of the Company to Rodinia Lithium Inc., following the annual and special meeting of the shareholders of the Company held on June 10, 2010. The name change remains subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (the "TSXV"). It is expected that the Company will commence trading on the TSXV and on the OTCX International Exchange as Rodinia Lithium Inc. in the week to come. The Company's ticker symbols remain unchanged as "RM" on the TSXV and "RDNAF" on the OTCQX.
In addition, the Company is pleased to announce that Mr. Daniel Bruno, CFA, MBA has been elected to the Company's Board of Directors. Mr. Bruno has over 15 years of investment industry experience. He began his career with the Ontario Teachers' Pension Plan Board, and then transitioned to investment banking where most of his career was with GMP Securities Ltd. as a Director in the Investment Banking group. Mr. Bruno has also worked as a Managing Director of a US based investment bank. Born in South America and fluent in Spanish, Mr. Bruno's background and continuing relationships in South America will help Rodinia further its development initiatives in Argentina.
Farhad Abasov, Executive Chairman of Rodinia, stated: "We are very pleased with the voting results of the Annual and Special Meeting of Shareholders. Our shareholders have shown very strong support for Rodinia's management team and overwhelmingly voted in favour of the name change and the election of Daniel Bruno to the board. The name change to Rodinia Lithium reflects the singular focus of the Company to develop its flagship lithium projects in Nevada, USA and Argentina. We are also happy to have Daniel Bruno join our Board. Daniel brings invaluable expertise in the capital markets and a solid network of contacts in South America."
In addition, the Company announces that it has granted an aggregate of 1,100,000 stock options of the Company to officers, directors and consultants of the Company. The options shall be exercisable for $0.34 and shall expire on June 15, 2015. The options remain subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange and shall remain subject to the statutory four month hold period.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Diablillos project in Salta, Argentina.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com. Follow us on Twitter: http://twitter.com/RodiniaLithium.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Company's projects; the potential impact of the name change of the Company; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. 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.
Contacts:
Rodinia Minerals Inc.
Aaron Wolfe
Vice President, Corporate Development
+1 (416) 309-2696
