Non-brokered deal sells units of one share and one two-year warrant
By Devika Patel
Knoxville, Tenn., Dec. 2 - Reservoir Capital Corp. said it settled a C$4.34 million non-brokered private placement of units. The deal priced for between C$3 million and C$5 million on Nov. 8.
The company sold 6,207,028 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 until Dec. 2, 2013. The strike price reflects a 33.33% premium to the Nov. 7 closing share price of C$0.75.
Finder's fees were paid to Haywood Securities Inc., Global Resource Investments Inc., Canaccord Genuity Corp. and Global Market Development Ltd.
Proceeds will be used to support the feasibility studies on the Brodarevo projects, for 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$4,344,920
|
| Units: | 6,207,028
|
| Price: | C$0.70
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Dec. 2, 2013
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 8
|
| Settlement date: | Dec. 2
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.75 at close Nov. 7
|
| Market capitalization: | C$25.5 million
|
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