Canadian Shells

[Tackler]

RM Rodinia Minerals raises $206,000 for staking

2004-10-05 15:03 ET - News Release

Mr. Donald Morrison reports

PRIVATE PLACEMENT CLOSES

Rodinia Minerals Inc. has closed its non-brokered private placement announced in Stockwatch on Aug. 30, 2004. The company has raised gross proceeds of $206,000 through the issuance of 824,000 units at a price of 25 cents per unit. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of the company at a price of 35 cents per share for a period of one year.

A finder's fee of 64,400 units was paid in this transaction, each unit consisting of one common share and one share purchase warrant entitling the holder to acquire an additional common share of the company for a period of one year at a price of 35 cents per share.

The common shares issued, as well as shares to be issued on exercise of the warrants, are subject to a hold period expiring on Jan. 28, 2005.

Proceeds from the company's non-brokered private placement will be used for a staking program and will provide additional working capital.