Proceeds slated for permitting work on Brodarevo hydroelectric project
By Toni Weeks
San Diego, Nov. 20 - Reservoir Capital Corp. said it has arranged a C$3 million private placement of units.
The company will sell 30 million units of one common share and one warrant at C$0.10 per unit.
Each whole two-year warrant will be exercisable at C$0.25, an 85.19% premium to the Nov. 20 closing share price of C$0.135.
Proceeds will be used for continued permitting work on the company's Brodarevo hydroelectric project in Serbia, new business efforts in Bosnia and Montenegro and general corporate purposes.
The Vancouver, B.C., renewable energy company is developing a hydroelectric project at Brodarevo in southwest Serbia.
| Issuer: | Reservoir Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
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| Pricing date: | Nov. 20
|
| Stock symbol: | TSX Venture: REO
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| Stock price: | C$0.135 at close Nov. 20
|
| Market capitalization: | C$6.66 million
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