By Devika Patel
Knoxville, Tenn., May 20 - Reservoir Capital Corp. said it plans to conduct a C$3.25 million non-brokered private placement of units.
The company will sell 5 million units at C$0.65 per unit. Each unit consists of one common share and one warrant, with each warrant exercisable at C$1.00 for two years.
The warrants may expire sooner if the company's shares close at C$1.30 or higher for 20 consecutive trading days. In that case, the warrants will expire 21 trading days after the company notifies holders.
Reservoir is a natural resource company based in Vancouver, B.C.
| Issuer: | Reservoir Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3.25 million
|
| Units: | 5 million
|
| Price: | C$0.65
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | May 20
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.78 at close on May 19
|
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