Deal sells common-share units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Oct. 13 – Reservoir Capital Corp. said it plans a C$1 million private placement of units.
The company will sell 2 million units of one common share and one half-share warrant at C$0.50 per unit.
The whole warrants are each exercisable at C$0.75 for five years. The strike price reflects a 25% premium to the Oct. 9 closing share price of C$0.60.
Proceeds will be used for permitting work on the Brodarevo Hydroelectric Project and for 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 half-share warrant
|
| Amount: | C$1 million
|
| Units: | 2 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.75
|
| Pricing date: | Oct. 13
|
| Stock symbol: | TSX Venture: REO
|
| Stock price: | C$0.60 at close Oct. 9
|
| Market capitalization: | C$7.71 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
