TORONTO, ONTARIO--(Marketwired - March 9, 2015) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM), has entered into a definitive sale agreement with a private Argentine subsidiary of a global mining company to sell a 100% interest in 1,166 hectares of mining rights comprising a portion of the Centenario and Ratones properties ("Properties"), held by the Company. In consideration for the sale of mining rights comprising the Properties, Rodinia will receive gross proceeds in the amount of US$408,046 on or before the March 16th, 2015. The sale agreement, along with previously announced sale of certain mining rights in Argentina, helps strengthen the Company's balance sheet and does not impact Rodinia's flagship Salar de Diablillos property (See Press Release dated September 17, 2014).
In addition, the Company announces that Aaron Wolfe has resigned as the Vice President, Corporate Development of the Company. The Company thanks Mr. Wolfe for his valuable contributions to the Company and wishes him well in his future endeavors.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in Argentina. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release may be deemed to constitute "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may include, without limitation, statements (express or implied) regarding the sale agreement with respect to the <> property, the sufficiency of the net proceeds to cover current expenditures at the Diablillos property, anticipated timing and results of the development of the Diablillos property and the ability of the Company to complete a strategic transaction. There can be no assurance that such statements (express or implied) will prove to be accurate, and actual results and future events could differ materially from such statements. 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.
Contact Information:
President and Chief Executive Officer
+1 (416) 309-2697