Rodinia Oil Corp.

May 21, 2010 10:00 ET

Rodinia Oil Corp. Announces Pricing of Its Initial Public Offering and Files Final Prospectus

CALGARY, ALBERTA--(Marketwire - May 21, 2010) -


Rodinia Oil Corp. ("Rodinia") is pleased to announce that it has obtained a receipt for its final prospectus filed with the securities regulatory authorities in each of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador, and has entered into an agency agreement for its initial public offering of 52,500,000 units at a price of $1.00 per unit for gross proceeds of $52.5 million.

Each unit is comprised of one Class "A" common share (a "Common Share") of Rodinia and one-half of one Common Share purchase warrant (a "Warrant") of Rodinia. Each whole Warrant will entitle the holder to acquire one Common Share at a price of $1.33 per share until the date that is 24 months following the closing of the offering. Closing of the offering is scheduled for May 28, 2010, subject to customary closing conditions.

Macquarie Capital Markets Canada Ltd. and RBC Capital Markets are acting as co-lead agents for a syndicate of agents, which also includes FirstEnergy Capital Corp. and Haywood Securities Inc.

Rodinia has granted to the agents an over-allotment option, exercisable in whole or in part in the sole discretion of the agents at any time until the date which is 30 days from the date of closing of the offering, to purchase up to an additional 7,875,000 Common Shares at a price of $0.95 per Common Share or up to an additional 3,937,500 Warrants at a price of $0.10 per Warrant, or any combination thereof, to cover over-allotments, if any, and for market stabilization purposes. If the over-allotment option is exercised in full, the gross proceeds of the offering will be approximately $60.4 million.

Rodinia has received conditional approval for the listing of the Common Shares and Warrants on the TSX Venture Exchange under the symbol "ROZ". Listing is subject to Rodinia fulfilling all of the requirements of the TSX Venture Exchange including distribution of the Common Shares to a minimum number of public shareholders.

A copy of Rodinia's final prospectus will be available on the SEDAR website at

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States or to "U.S. Persons" as such term is defined in Regulation S under the U.S. Securities Act, absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. 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 these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Rodinia Oil Corp.

Rodinia is a junior oil and natural gas corporation engaged in the exploration, acquisition and development of petroleum and natural gas assets in Australia, and is currently focused on onshore exploration in Australia.

Rodinia's primary assets consist of petroleum exploration licence applications and petroleum exploration licences ("PELAs" and "PELs", respectively) in the Officer Basin of South Australia, and exploration permit applications ("EPAs") in the Officer Basin of Western Australia. The PELs and PELAs in South Australia cover approximately 10.6 million gross undeveloped acres in South Australia (8.5 million net undeveloped acres) and the EPAs cover approximately 6.7 million gross undeveloped acres (5.4 million net undeveloped acres) in Western Australia. Rodinia has a net 80% operated working interest in the lands in both South Australia and Western Australia.

Forward-Looking Statements

This press release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Rodinia, including, without limitation, those listed under the headings "Forward-Looking Statements" and "Risk Factors" in Rodinia's final prospectus. Forward-looking information in this press release includes, but is not limited to, information concerning the proposed public offering including the anticipated closing date of the offering. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking information. Accordingly, prospective investors should not place undue reliance on these forward-looking statements. These forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, Rodinia does not assume any obligation to update or revise them to reflect new events or circumstances.

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