Rodinia Oil Corp.

June 11, 2010 09:10 ET

Rodinia Oil Corp. Closes Initial Public Offering Over-Allotment Option

International Oil and Gas Company Closes Over-Allotment of an Additional 4,700,000 Class "A" Common Shares and 3,937,500 Warrants

CALGARY, ALBERTA--(Marketwire - June 11, 2010) -  


Rodinia Oil Corp. (TSX VENTURE:ROZ) ("Rodinia") announced today the completion of the agent's over-allotment option in connection with its initial public offering. Through the over-allotment option, the agents have purchased an additional 4,700,000 Class "A" common shares in the capital of Rodinia ("Common Shares") at a price of $0.95 per Common Share and an additional 3,937,500 purchase warrants ("Warrants") at a price of $0.10 per Warrant.

The gross proceeds of the over-allotment option were $4,858,750, in addition to the initial public offering's gross proceeds of $52,500,000, for total gross proceeds of $57,358,750 ($53,917,225 net of commissions).

The Common Shares and Warrants are listed on the TSX Venture Exchange and trade under the symbols "ROZ" and "ROZ.WT", respectively.

Rodinia announced the closing of its initial public offering on May 28, 2010. Net proceeds of the offering are expected to be used by Rodinia to finance its extensive oil and natural gas exploration programs in Australia and for general corporate purposes. Rodinia's exploration acreage is located in the Officer Basin, in South Australia and Western Australia. The Officer Basin has significant resource potential due to its shared geological analogues with basins in Russia and the Persian Gulf, which possess billions of barrels of proven light oil reserves. Rodinia has access to 17.3 million gross acres of under-explored land in the region.

Macquarie Capital Markets Canada Ltd. and RBC Capital Markets acted as co-lead agents on the offering for a syndicate of agents, which also included FirstEnergy Capital Corp. and Haywood Securities Inc.

For more information on Rodinia, please visit

About Rodinia Oil Corp.

Rodinia is a junior oil and gas corporation engaged in the exploration, acquisition and development of world-class onshore petroleum and natural gas assets in Australia's Officer Basin. Founded in 2006, Rodinia is one of the first companies of its kind to undertake onshore exploration in the Officer Basin and has access to large tracts of potential oil resources in the region. Rodinia's head office is based in Calgary, Alberta.

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. 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.

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 applicable U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of "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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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