Rodinia Announces Shareholder Approval of Proposed Transaction With Aberdeen
12.12.2015 | Marketwire
TORONTO, Dec 11, 2015 - Rodinia Lithium Inc. (TSX VENTURE:RM) ("Rodinia" or the "Company") is pleased to announce that at its (i) annual and special meeting of common shareholders, and (ii) special meeting of potash stream preferred shareholders, each held on December 11, 2015, the common shareholders and the potash stream preferred shareholders approved all matters put before them, including the sale by the Company of all of the issued and outstanding shares of Potasio y Litio de Argentina SA to Aberdeen International Inc. (the "Transaction"). The Transaction was approved by: (i) 94% of votes cast by common shareholders, (ii) 92% of votes cast by disinterested common shareholders, and (iii) 100% of votes cast by the potash stream preferred shareholders.The common shareholders elected each of the four management nominees as a director of the Company for the ensuing year, with each nominee receiving more than 90% of votes in favour of his election. The directors are:
- Farhad Abasov
- William Randall
- David Stein
- Rodrigo De La Serna Correas
The common shareholders also re-approved the Company's stock option plan (the "Option Plan") in accordance with the requirements of the TSXV Venture Exchange ("TSXV"). The Transaction and the Option Plan are each subject to the final approval by the TSXV. Closing of the Transaction is subject to satisfaction of all conditions precedent to its completion and is expected to occur in December 2015.
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.
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, statements with respect to the Company's exploration and development prospects, the expected benefits of the Transaction to the Company and its shareholders, obtaining and the timing of TSXV approval and closing of the Transaction. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" "target" and similar expressions may identify forward-looking statements. Although Rodinia believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inherent uncertainties with respect to obtaining regulatory and shareholder approval in respect of the Transaction, the potential inherent risks and uncertainties associated with realizing the benefits expected from the Transaction, the inherent risks of Rodinia not successfully completing the Transaction and other risks disclosed in the Company's filings made with Canadian Securities Regulators. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
>This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Rodinia or any solicitation of proxies. The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions.
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
Rodinia Lithium Inc.
Will Randall, President and Chief Executive Officer
+1 (416) 309-2697
www.rodinialithium.com