By Devika Patel
Knoxville, Tenn., July 21 - Reservoir Capital Corp. said it plans to conduct a C$5 million non-brokered private placement of units.
The company will sell 8,333,333 units at C$0.60 per unit. Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.80 in the first year and at C$0.90 thereafter.
The warrants may expire sooner if the company's shares close at C$1.20 or higher for 20 consecutive trading days. In that case, the warrants will expire 21 trading days after the company notifies holders.
Proceeds will be used to support the company's ongoing efforts in the renewable energy sector in Serbia and for general corporate purposes.
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$5 million
|
| Units: | 8,333,333
|
| Price: | C$0.60
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80 in the first year, C$0.90 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | July 21
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.69 at close on July 20
|
| Market capitalization: | C$15 million
|
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