Investorideas.com - Mining Stocks; Rodinia Lithium Inc. (TSX-V: RM) (OTCQX: RDNAF) announces CDN$5 million equity financing

Investorideas.com - Mining Stocks; Rodinia Lithium Inc. (TSX-V: RM) (OTCQX: RDNAF) announces CDN$5 million equity financing


TORONTO - July 22, 2010 (Investorideas.com Mining stocks Newswire) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM; OTCQX:RDNAF), is pleased to announce that it has filed a preliminary short form prospectus in connection with a fully marketed offering of 16,700,000 units of the Company (the "Units") at a price of $0.30 per Unit for gross proceeds of Cdn$5,010,000 (the "Offering"). The Offering is being conducted by Canaccord Genuity Corp. (the "Agent"). Each unit will be comprised of one common share of the Company and one half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of Cdn$0.40 for a period of 24 months following the closing date (as hereinafter defined). In addition, the Company has agreed to grant the Agent an option (the "Over-Allotment Option") to sell up to an additional 2,505,000 Units on the same terms and conditions as the Offering, exercisable any time, in whole or in part, up to 48 hours prior to the closing date of the Offering. If the Over-Allotment Option is exercised in full, the total gross proceeds to Rodinia will be Cdn$5,761,500.

The units to be issued under the Offering will be offered by way of a short form prospectus filed in British Columbia, Alberta and Ontario.
The net proceeds raised under the Offering will be for the advancement of the Company's Salar de Diablillos lithium brine projects, for property payments on the Salar de Diablillos, the Salar de Salinas Grandes and the Salar de Ratones properties located in Argentina, and for general working capital purposes.
The Offering is expected to close on or about August 10, 2010 and is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.


This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares or Warrants in any jurisdiction in which such offer, solicitation or sale would be unlawful.


About Rodinia Lithium Inc.:Visit this company: www.rodiniaminerals.com
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.rodiniaminerals.com or write us at info@rodiniaminerals.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 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
Aaron WolfeRodinia Lithium Inc.Vice President, Corporate Development+1 (416) 309-2696www.rodiniaminerals.com


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