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Reservoir Opens Subsidiary to Evaluate Hydro-Power Opportunities
in Bosnia
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Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to
announce that it has opened a branch office for its wholly-owned
subsidiary Renewable Energy Ventures (REV) in Bosnia and Herzegovina,
within the autonomous region of the Republic of Srpska. The Company is
in the act of appointing Mr. Jelenko Malis as Country Manager,
responsible for establishing Reservoir's presence in the country.
The State-owned utility, Elektroprivreda Republika Srpska (ERS)
currently produces 2,985 GWh annually of electricity from hydroelectric
plants, but estimates that only 30% of the available hydro potential is
being used. The government has begun a concerted effort to attract
foreign investment to develop these untapped hydro resources and is
seeking investors for various projects on the Drina, Lim and Neretva
Rivers.
The local power grid is regulated in accordance with the standards of
the Union for Coordination and Transmission of Electricity (UCTE) and
the European Union. The country currently has excess capacity and
exports approximately half of its electrical surplus into the European
market.
Reservoir President and CEO, Miljana Vidovic stated, "Opening our new
office in Bosnia is an important step for our company. Our mission is
to build a sustainably sized renewable energy business in the region.
We believe now is the ideal time to extend our reach beyond the
projects we have currently in Serbia."
About Reservoir
Reservoir Capital Corp. is a Southeast Europe focused run-of-river
hydroelectric developer working in Serbia and Bosnia. The Company is
currently conducting pre-feasibility studies on two hydroelectric
projects totaling 48MW on the River Lim in southwest Serbia and
actively seeking new hydro projects. Reservoir's common shares trade on
the TSX Venture Exchange under the symbol "REO" and on the Frankfurt
and Berlin exchanges under the symbol "ROC".
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For further information on Reservoir Capital Corp. please consult the
Company's website www.reservoircapitalcorp.com or contact Miljana
Vidovic, President; Miles Thompson, Chairman; or Kim Casswell,
Corporate Secretary, at (604) 662-8448.
Investor Relations:
Vancouver: Julia Maxwell, (604) 662-8448
Toronto: Chris MacIntyre, (416) 640-1932
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
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Copyright (c) 2009 RESERVOIR CAPITAL CORP. (REO) All rights reserved.
For more information visit our website at
http://www.reservoircapitalcorp.com/ or send
mailto:info@reservoircapitalcorp.com
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Reservoir Capital Corp.
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EXPLORATION STAGE |
CODE : REO.V |
ISIN : CA7611251033 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Reservoir Capital is a exploration company based in Canada. Reservoir Capital holds various exploration projects in Serbia and montenegro. Its main exploration properties are DELI JOVAN in Serbia and BRESTOVAC in Serbia and montenegro. Reservoir Capital is listed in Canada. Its market capitalisation is CA$ 917 500 as of today (US$ 702 043, € 597 649). Its stock quote reached its highest recent level on March 16, 2012 at CA$ 9.80, and its lowest recent point on June 09, 2017 at CA$ 0.03. Reservoir Capital has 18 350 000 shares outstanding. |