Rodinia Lithium names Shi, Randall as directors

2011-04-25 08:11 ET - News Release

Mr. Will Randall reports

RODINIA LITHIUM INC. ANNOUNCES CHANGES TO BOARD OF DIRECTORS

Rodinia Lithium Inc. has appointed Xizhong Shi and Will Randall,PGeo, to the board of directors of the company effective as of today'sdate. Mr. Shi is currently the chief executive officer of Hong KongShanshan Resources Co. Ltd., a wholly owned subsidiary of NingboShanshan Co. Ltd., an investor in the company.

Mr. Shi received a master of science degree from Beijing University andan MBA from SUNY at the University of Buffalo. Mr. Shi has 20 years ofexperience in the high technology industry, which includeslithium-ion-battery technologies. Previously, Mr. Shi was chiefexecutive officer of Founder Technology Computer Co. Ltd. (now FounderTechnology Group Inc.) and president of EC-Founder Co. Ltd. Mr. Shi hasconsiderable experience in management, finance, and executing andmanaging transactions.

Shanshan is one of the world's largest producers of materials used forthe manufacturing of lithium-ion batteries and the largest in China.Shanshan's lithium-ion-battery material plants are located in the citiesof Shanghai, Hunan, Ningbo and Dongwan, and are all significantend-users of lithium carbonate. Shanshan is one of the 500 largestChinese corporations, with assets valued at over $2-billion (U.S.) andrevenues during 2009 reaching a similar number, producing cathode, anodeand electrolyte materials used in the construction of lithium-ionbatteries.

Farhad Abasov, chairman of Rodinia, commented: "We welcome Mr.Shi to the board as we continue to grow the relationship between Rodiniaand Shanshan. Mr. Shi brings a wealth of experience to the board anddirect access to lithium carbonate end-users, ensuring Rodiniamanagement is well acquainted with the lithium carbonate market. Wetrust that Mr. Shi's inclusion on the board of directors of the companywill lead to future co-operation of a greater scale."

In addition, the company is pleased to announce that Will Randall, PGeo,the current president and chief executive officer of the company, hasbeen appointed to the board of directors of the company. The appointmentof Mr. Shi and Mr. Randall follows the resignations of Stan Bharti andTony Wonnacott as directors of the company effective as of today's date.The company would like to take this opportunity to thank Mr. Bharti andMr. Wonnacott for their dedicated efforts and continued support of thecompany. In connection with the appointments, the company has granted400,000 stock options to directors and officers of the company. Theoptions shall be exercisable at 44 cents and shall expire on April 25,2016. The options remain subject to the receipt of all regulatoryapprovals, including the approval of the TSX Venture Exchange, and shallremain subject to a statutory four-month hold period.

We seek Safe Harbor.