Deal sells common-share units of one share and one five-year warrant
By Devika Patel
Knoxville, Tenn., Aug. 1 – Reservoir Capital Corp. said it raised C$500,060 in the second and final tranche of a C$1 million private placement of units. The deal priced on June 9 and raised C$499,940 on July 9.
The company sold 6,666,667 units of one common share and one warrant at C$0.15 per unit. It sold 3,332,933 units in the first tranche and 3,333,734 units in the second.
The warrants are each exercisable at C$0.20 for five years, with the first-tranche warrants expiring on July 9, 2019 and the second-tranche warrants expiring on Aug. 1, 2019. 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.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 6,666,667
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | July 9, 2019, Aug. 1, 2019
|
| Warrant strike price: | C$0.20
|
| Pricing date: | June 9
|
| Settlement dates: | July 9 (for C$499,940), Aug. 1 (for C$500,060)
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.19 at close June 6
|
| Market capitalization: | C$1.52 million
|
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