Rodinia Appoints David Stein As President And Chief Executive Officer
Toronto, Ontario, October 6, 2009: Rodinia Minerals Inc. (“Rodinia” or the “Company”) (TSXV: RM) is pleased to announce that its Board of Directors today appointed David M. Stein, MSc., CFA, as President and Chief Executive Officer of the Company, effective immediately. As part of the appointment, Mr. Stein will also be joining the Board of Directors.
Mr. Stein will replace Farhad Abasov as a Director. Mr. Abasov has resigned as a Director but will continue to be available to the Company on a consulting basis to assist with the evaluation of strategic initiatives. The Board of Directors would like to thank Mr. Abasov for his contributions to Rodinia.
Mr. Stein will also replace Donald Mosher as President. Mr. Mosher will continue to serve on the Board of Directors and commented “We are pleased to welcome David to the Rodinia team. David’s technical expertise and experience in the capital markets will help Rodinia enhance and realize the value of its lithium assets as the Company expands its exploration and drilling operations.”
Stan Bharti, Executive Chairman of Rodinia stated “We have big plans for Rodinia to be a leader among lithium development companies. David’s experience in the capital markets and with project evaluation should help the Company achieve success over the longer-term.”
Mr. Stein was most recently a mining equities analyst, director and member of the executive committee at Cormark Securities Inc. Mr. Stein joined Cormark’s predecessor Sprott Securities Inc. in 2001 and over a 9-year career gained experience with equity research, corporate finance and marketing. Mr. Stein holds a Master of Science degree (Economic Geology) and Bachelor of Applied Science (Geological Engineering) from Queen’s University, and is a CFA charter holder. Mr. Stein is also President, Chief Operating Officer and Director of Aberdeen International Inc., a resource merchant banking company with investments in mining, agriculture, and oil & gas in more than 20 countries.
Mr. Stein remarks “I see Rodinia as a leader in lithium carbonate production focusing on brine development and ultimately production. We know that the business is challenging but the longer-term prospects for lithium demand in batteries are excellent and our Clayton Valley project in Nevada, USA, represents a superb anchor in an established producing district in a geopolitically stable jurisdiction. We are building a first-class team and I am excited to work towards the completion of a detailed profile of the Clayton Valley project and NI 43-101 report on the northern claim area over the upcoming months.”
In addition, the Company has granted 2,500,000 options to various officers, directors and consultants of the Company subject to regulatory approval. The options shall be exercisable at $0.45 and expire on October 5, 2014, subject to four month regulatory hold period.
About Rodinia Minerals Inc.:
Rodinia Minerals Inc. is a rapidly growing lithium mine developer in the Clayton Valley, Nevada, USA.
Rodinia Minerals Inc.
Please visit the Company’s web site at www.rodiniaminerals.com or write us at firstname.lastname@example.org or email@example.com
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Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the impact of the appointment on Rodinia; the potential of the Company’s projects; timetable for further exploration, analysis and development; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. 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.