By Sheri Kasprzak
Atlanta, Nov. 29 - Rodinia Minerals Inc. said Wednesday it will enter the private placement market with a C$1.3 million offering.
The deal includes 2 million units at C$0.65. The units are comprised of one share and one half-share warrant.
Each full warrant allows for an additional share at C$0.80 for the first year and C$0.90 for the second year.
Haywood Securities Inc. is placement agent in the deal.
Based in Vancouver, B.C., Rodinia is a uranium exploration and development company. The company will use the proceeds from the private placement to accelerate its exploration program on the Workman Creek deposit. The company will also use the funds for exploration on other properties in Gila County, Ariz., and for general working capital.
| Issuer: | Rodinia Minerals Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.3 million
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| Shares: | 2 million units
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| Price: | C$0.65
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.80 for the first year; C$0.90 for the second year
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| Placement agent: | Haywood Securities Inc.
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| Announcement date: | Nov. 24
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| Stock price: | C$0.95 at close Nov. 24
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