Company offers equity units of one share and one two-year warrant
By Devika Patel
Knoxville, Tenn., Nov. 8 - Reservoir Capital Corp. said it will raise between C$3 million and C$5 million in a private placement of units.
The company will sell between 4,285,714 and 7,142,857 units at C$0.70 apiece. Each unit consists of one common share and one warrant.
The warrants are each exercisable at C$1.00 for two years. The strike price reflects a 33.33% premium to the Nov. 7 closing share price of C$0.75.
Proceeds will be used to support the feasibility studies on the Brodarevo projects, new business efforts in the renewable energy sector and for general corporate purposes.
Reservoir is a renewable energy company based in Vancouver, B.C.
| Issuer: | Reservoir Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million (minimum), C$5 million (maximum)
|
| Units: | 4,285,714 (minimum), 7,142,857 (maximum)
|
| Price: | C$0.70
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Pricing date: | Nov. 8
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.75 at close Nov. 7
|
| Market capitalization: | C$34.77 million
|
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