Successful Completion of $5,000,000 Private Placement
Vancouver, British Columbia, (TSX Venture: REO) -- Reservoir Capital
Corp. ("Reservoir" or the "Company") is pleased to report that it has
completed a non-brokered private placement financing (the "Private
Placement") of $5,000,000 by the issuance of 8,333,333 units at $0.60
per unit. Each Unit consists of 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 provide notice
of an earlier expiry of the Warrants, in which case the Warrants shall
expire 21 trading days after giving such notice ("Acceleration
Provisions"). The Private Placement was open to residents of British
Columbia, Alberta, Ontario and any other qualifying international
A finder's fee was paid in Units to certain finders with respect to the
Private Placement. The terms of the finder's fee are consistent with
those of the Private Placement, including the Acceleration Provisions.
All Shares, Warrants and any Shares issued upon exercise of the
Warrants, are subject to a regulatory hold period expiring on January
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.
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.
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.
Copyright (c) 2009 RESERVOIR CAPITAL CORP. (REO) All rights reserved.
For more information visit our website at
http://www.reservoircapitalcorp.com/ or send