Rodman & Renshaw LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group Inc, has announced that it acted as financial advisor to Otjozondu Holdings in the completed acquisition of a 75.5% interest in the Otjozondu Manganese Project located in Namibia by Shaw River Resources Limited.

The settlement of this acquisition follows the completion of an extensive due diligence program, shareholder approval and receipt of approvals from Namibian authorities for the transaction.

Shaw River has acquired a 75.5% interest in Otjo through the purchase of 100% of Otjozondu Holdings Pty Ltd, a Namibian company that holds a 75.5% stake in Otjo. Otjo, is located 150 kilometers north east of the Namibian capital of Windhoek and lies in a historical manganese field which has produced in aggregate approximately 500,000 tonnes of high grade (50%) manganese since the 1950's.