By Laura Lutz
Washington, Feb. 2 - Reservoir Capital Corp. settled a private placement of units for C$2 million.
The company sold 4 million units of one share and one non-transferable warrant at C$0.50 per unit. Each warrant is exercisable for two years, at C$0.75 in the first year and at C$0.85 in the second year.
The placement was conducted concurrently with the company's acquisition of Southern European Exploration Ltd., which was previously an indirect wholly owned subsidiary of Eurasian Minerals Inc.
Following the acquisition, Reservoir is a mineral exploration company based in Vancouver, B.C. It was a capital pool company before the acquisition.
| Issuer: | Reservoir Capital Corp.
|
| Issue: | Units of one share and one non-transferable warrant
|
| Amount: | C$2 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75 in the first year; C$0.85 in the second year
|
| Settlement date: | Feb. 2
|
| Stock symbol: | TSX Venture: REO.P
|
| Stock price: | C$0.37 at close Feb. 2
|
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