TORONTO, ONTARIO--(Marketwired - Sept. 16, 2016) - Rodinia Lithium Inc. (TSX VENTURE:RM) ("Rodinia" or the "Company") is pleased to announce that it has received final approval from the TSX Venture Exchange ("TSXV") and has completed a change of business ("COB") to a tier 2 investment company under the rules of the TSXV.
In connection with the COB, the Company will change its name to "Routemaster Capital Inc." (the "Name Change") and consolidate its common shares on the basis of one new common share for every ten existing common share (the "Consolidation"). Effective September 20, 2016, the Company will commence trading under the name "Routemaster Capital Inc." and continue under the symbol "RM".
The Company currently has 166,674,784 common shares outstanding and, following the Consolidation on a ten for one basis, will have approximately 16,667,478 common shares outstanding. The change in the number of issued and outstanding common shares that will result from the Consolidation will not materially affect any shareholder's percentage ownership in the Company, although such ownership would be represented by a smaller number of common shares.
A letter of transmittal was mailed to shareholders advising that the Consolidation has taken effect and instructing shareholders to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the Consolidation.
The COB, Name Change and Consolidation were approved by the shareholders of the Company at the annual and special meeting held on August 11, 2016. Further details regarding the COB, Name Change and Consolidation are contained in the Company's management information circular dated July 13, 2016, which has been filed under the Company's profile on SEDAR at www.sedar.com.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company.
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements, including statements regarding the COB, the Name Change, the Consolidation and the trading of the Company's common shares. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.
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