Natural resource company offers 3.3 million units in non-brokered deal
By Devika Patel
Knoxville, Tenn., Oct. 15 - Reservoir Capital Corp. said it will conduct a non-brokered private placement of units. The deal will raise C$1.98 million.
The company will sell 3.3 million units at C$0.60 apiece. Each unit consists of one common share and one two-year warrant. The warrants are each exercisable at C$0.80 in the first year and at C$0.90 thereafter.
The strike prices reflect 37.93% and 55.17% premiums to the Oct. 14 closing share price of C$0.58.
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$1.98 million
|
| Units: | 3.3 million
|
| 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 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.58 at close Oct. 14
|
| Market capitalization: | C$18.09 million
|
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