CALGARY, Sept. 18, 2012 /CNW/ - (TSXV: ROZ) - Rodinia Oil Corp. ("Rodinia" or "Corporation") is pleased to announce that it has retained CIBC World Markets Inc. as its exclusive financial advisor to assist the Board of Directors' Special Committee in exploring and evaluating a range of strategic alternatives with the view to maximizing shareholder value.
Such strategic alternatives may include, but are not limited to, a sale, farmout or joint venture of all or a portion of the assets of the Corporation, a merger or other business combination of the Corporation with another entity, a recapitalization of the Corporation, a sale of the Corporation as a whole or any combination thereof.
Rodinia does not have a defined timeline for the strategic review, and there can be no assurance that the review will result in any specific action or transaction.
About Rodinia Oil Corp.
Rodinia is engaged in the exploration, acquisition and development of petroleum and natural gas assets in Australia's Officer Basin. Rodinia's assets include an 85% working interest in approximately 23,000,000 gross acres of exploratory lands in South Australia and Western Australia, along with 4,048 kilometres of seismic acquired and processed by the Corporation, the results of two wells and a 15,300 kilometre aeromagnetic/aerogravity survey, all relating to this exploratory acreage. Rodinia has no debt. Rodinia has offices in Calgary, Alberta and Adelaide, South Australia. Its common shares are listed for trading on the TSX Venture Exchange under the symbol "ROZ".
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Rodinia, including, without limitation, statements pertaining to the potential timing and results of the search for strategic alternatives and management's future plans. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rodinia's disclosure documents on the SEDAR website at www.sedar.com. Any 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.
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.
SOURCE: Rodinia Oil Corp.
For further information:
Rodinia Oil Corp.
Suite 320, 715 5 Ave. SW
Calgary, Alberta, Canada T2P 2X6
Telephone: (403) 718-0366
Toll Free: (877) 822-7280
Fax: (403) 718-3888