Deal sells common-share units of one share and one five-year warrant
By Devika Patel
Knoxville, Tenn., Oct. 14 – Reservoir Capital Corp. said it plans to conduct a C$1 million private placement of units.
The company will sell 2.5 million units of one common share and one warrant at C$0.40 per unit.
The warrants are each exercisable at C$0.60 for five years. The strike price reflects a 30.44% premium to the Oct. 10 closing share price of C$0.46.
Proceeds will be used for permitting work on the Brodarevo Hydroelectric Project in Serbia, new business efforts in Italy 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: | 2.5 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.60
|
| Pricing date: | Oct. 14
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.46 at close Oct. 10
|
| Market capitalization: | C$2.11 million
|
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