Non-brokered deal sells units of one share and one two-year warrant
By Devika Patel
Knoxville, Tenn., Dec. 18 - Reservoir Capital Corp. said it completed a C$2.79 million initial tranche of a non-brokered private placement of units.
The company sold 27.85 million units of one common share and one warrant at C$0.10 per unit.
The warrants are each exercisable at C$0.25 until Dec. 18, 2014. The strike price reflects a 108.33% premium to the Dec. 17 closing share price of C$0.12.
Proceeds will be used for permitting work on the Brodarevo project, new business efforts in Bosnia and Montenegro and 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$2,785,000
|
| Units: | 27.85 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Dec. 18, 2014
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 18
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.12 at close Dec. 17
|
| Market capitalization: | C$5.6 million
|
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