REO Reservoir Capital Corp. (delisted)

Reservoir Capital Corp. (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) -  

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED
STATES OF AMERICA


Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to announce
that it is has completed the first tranche of a non-brokered private placement
financing (the "Private Placement") raising $2,785,000 by the issuance of
27,850,000 units at $0.10 per unit. Each unit was comprised of one common share
(a "Share") and one non-transferable, common share purchase warrant (a
"Warrant"). Each Warrant entitles the holder to purchase an additional Share at
$0.25 until December 18, 2014. If, after April 18, 2013, the closing price of
the Company's shares on the TSX Venture Exchange is $0.35 or greater for 10
consecutive trading days, the Company may, by notice given within five trading
days thereof, accelerate the expiry of the warrants to the 21st trading day
after such notice.


The Company paid finders' fees of $148,500 (8%) in respect of subscriptions from
investors introduced by various finders. The fees were paid in cash ($41,600),
or at the finder's election, through the issuance of that number of units equal
to 8% of the number of units issued pursuant to such subscriptions (1,068,000
units). Insiders of the Company purchased 1,200,000 units and Pro Group members
a further 1,350,000 units of the first tranche.


The Shares, and any Shares issued on the exercise of the Warrants, are subject
to a restricted resale period under Canadian securities law and Exchange policy
until April 19, 2013.


The proceeds of the offering will be used by Reservoir to support continued
permitting work on its Brodarevo Hydroelectric Project in Serbia, new business
efforts in Bosnia and Montenegro and for general corporate purposes.


About Reservoir

Reservoir is a renewable energy company that is engaged in the development of a
59.1 MW hydroelectric project at Brodarevo in southwest Serbia, for which a
positive Feasibility Study was completed in June 2012. Reservoir holds four
geothermal exploration licenses in Serbia and has applied for three
hydroelectric concessions on the Cehotina River in Bosnia (17.75 MW).
Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and
on the Frankfurt and Berlin Exchanges (symbol "ROC").


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States of America. The
securities have not been and will not be registered under the United States
Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons (as
defined in the U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws, or an exemption from such registration
is available.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Reservoir Capital Corp.
Chris MacIntyre
VP Corporate Development
+1 416 703 0010
info@reservoircapitalcorp.com
www.reservoircapitalcorp.com

Reservoir Capital Corp. (TSXV:REO)
Historical Stock Chart
From Jun 2024 to Jul 2024

Reservoir Capital Corp. (TSXV:REO)
Historical Stock Chart
From Jul 2023 to Jul 2024