Ore Acquisition Partners, LP

August 16, 2016 08:42 ET

Ore Acquisition Partners, LP Acquired Common Shares of Rodinia Lithium Inc. as Part of Transaction With Aberdeen and Subsequently Disposed of 800,000 Common Shares

TORONTO, ONTARIO--(Marketwired - Aug. 16, 2016) - Ore Acquisition Partners, LP ("Ore Acquisition") explains that, on September 8, 2015, it acquired ownership of 17,362,811 common shares (the "Common Shares") of Rodinia Lithium Inc. ("Rodinia") at a deemed price per Common Share of CDN$0.03. This acquisition was completed as part of Ore Acquisition's purchase from Aberdeen International Inc. of a portfolio of investments. The 17,362,811 Common Shares represented 10.4% of the 166,674,784 issued and outstanding Common Shares of Rodinia upon completion of the purchase of the investment portfolio. Pursuant to the portfolio purchase transaction, Ore Acquisition entered into a management agreement with Aberdeen that provided Aberdeen with certain decision-making authority in respect of the sale of investments in the purchased portfolio. As part of this overall transaction, the purchase of the Common Shares was completed through the facilities of the TSX Venture Exchange. On October 6, 2015, Ore Acquisition sold 800,000 Common Shares at a deemed price per Common Share of CDN$0.03, which trade was pre-arranged and completed through the facilities of the TSX Venture Exchange.

Ore Acquisition acquired the Common Shares for investment purposes and continues to monitor the business, prospects and financial condition of Rodinia. Depending on its evaluation of these and other factors, Ore Acquisition may from time to time in the future increase or decrease its ownership, control or direction over the common shares or other securities of Rodinia through market transactions, private agreements, subscriptions from treasury or otherwise. As at August 15, 2016, Ore Acquisition had ownership of 16,562,811 Common Shares and consequently is not a 10% shareholder of Rodinia.

For inquiries or a copy of the related Early Warning Report required under Canadian provincial securities legislation, a copy of which has also been filed on www.sedar.com, please contact David Stein at +1.(416).861.5812.

Contact Information

  • Ore Acquisition Partners, LP
    10 Mill Pond Land
    Simsbury, Connecticut
    06070