Deal sells common share units of one share and one five-year warrant
By Devika Patel
Knoxville, Tenn., June 9 – Reservoir Capital Corp. said it will raise C$1 million in a private placement of units.
The company will sell 6,666,666 units of one common share and one warrant at C$0.15 per unit.
The warrants are each exercisable at C$0.20 for five years. The strike price reflects a 5.26% premium to the June 6 closing share price of C$0.19.
Proceeds will be used for permitting work on the Brodarevo Hydroelectric Project in Serbia, 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.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1 million
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| Units: | 6,666,666
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| Price: | C$0.15
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | C$0.20
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| Pricing date: | June 9
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.19 at close June 6
|
| Market capitalization: | C$780,350
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