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Reservoir to Raise $5,000,000 by Way of Private Placement
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Not for distribution to U.S. newswire services or for dissemination in
the United States
Vancouver, British Columbia, (TSX Venture: REO) -- Reservoir Capital
Corp. ("Reservoir" or the "Company") is pleased to report that the
Company is arranging a non-brokered private placement financing of
$5,000,000 by the issuance of 8,333,333 units at $0.60 per unit (a
"Unit"). Each Unit shall comprise one common share (a "Share") and one
non-transferable, common share purchase warrant (a "Warrant") valid for
2 years. Each Warrant will entitle the holder thereof to acquire an
additional Share at a price of $0.80 per share during the first year
and $0.90 during the second year from the closing of the private
placement. If after the expiry of all resale restrictions, the closing
price of the Shares on the TSX Venture Exchange is $1.20 or greater for
a period of 20 consecutive trading days, the Company may at its
election provide notice of an earlier expiry of the Warrants, in which
case the Warrants shall expire 21 trading days after giving such
notice. A finder's fee of 6.5 percent in Units will be paid on the
private placement, which is open to residents of British Columbia,
Alberta, Ontario and any other qualifying international jurisdictions.
There can be no assurance that the private placement will be completed
as proposed or at all, and it is subject to all applicable regulatory
approvals. The proceeds of the offering will be used by Reservoir to
support the company's ongoing efforts in the renewable energy sector in
Serbia and for general corporate purposes.
About Reservoir
Reservoir Capital Corp. is a Southeast Europe focused project
generator, with a mandate to acquire undeveloped natural resource
opportunities. The Company is investing primarily in renewable energy,
with currently two hydroelectric projects totaling 48MW of capacity
undergoing pre-feasibility studies in Serbia. 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".
For further information on Reservoir Capital Corp. please consult the
Company's website www.reservoircapital.ca or contact Miljana Vidovic,
President; Miles Thompson, Chairman; or Kim Casswell, Corporate
Secretary, at +1 (604) 662-8448.
Investor Relations:
Vancouver: Julia Maxwell, +1 (604) 662-8448
Toronto: Chris MacIntyre, +1 (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. |