Reservoir Acquires Land for Brodarevo-2 Dam Site Construction
June 13 2011 - 7:00AM
Marketwired
Reservoir Capital Corp. (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN:
ROC) ("Reservoir" or the "Company") is pleased to report that it
has acquired an option to purchase surface rights required for the
permitting and development of the Brodarevo-2 Hydroelectric Project
("Project"). The land package optioned covers approximately five
hectares and includes several houses and a meat-processing
facility, on the banks of the River Lim, where the Company plans to
locate the Brodarevo-2 dam and power plant.
Completion of this purchase allows the Company to move forward
with its planned geotechnical drilling program for the dam
foundations, to complete Feasibility Studies and is an important
element in the issue of building permits for the project.
Miljana Vidovic, President and CEO of Reservoir commented: "This
has been a lengthy and delicate process involving multiple sellers
from the Muslim and Serb communities surrounding our projects. We
are very pleased with the support and cooperation we have received
and very proud to have the opportunity to work with the local
communities to develop Brodarevo to the benefit of all
parties."
About Reservoir
Reservoir is a renewable energy company that is engaged in the
development of a 58.4 MW hydroelectric project at Brodarevo in
southwest Serbia. Reservoir holds four geothermal exploration
licenses in Serbia and has applied for three hydroelectric licenses
on the Cehotina River in Bosnia (17.75 MW) and one to develop a 32
MW project from an existing reservoir dam at Vrutci in Serbia. The
Company also holds 8 precious and base metal exploration properties
in Serbia that, subject to approvals, are to be spun-out into a
separately listed company via dividend (see March 25, 2011 Press
Release "Reservoir Capital Announces Spin-Out of Mineral
Exploration Assets"). Reservoir's common shares trade on the TSX
Venture Exchange (symbol "REO") and on the Frankfurt and Berlin
Exchanges (symbol "ROC").
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Reservoir Capital Corp. Chris MacIntyre VP Corporate
Development +381 (11) 397 8453 or +1 416 703 0010
info@reservoircapitalcorp.com www.reservoircapitalcorp.com
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