Reservoir Capital Corp.
TSX VENTURE : REO
FRANKFURT : ROC
BERLIN : ROC

Reservoir Capital Corp.

July 21, 2009 07:30 ET

Reservoir to Raise $5,000,000 by Way of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) is pleased to report that the Company is arranging a non-brokered private placement financing of $5,000,000 by the issuance of 8,333,333 units at $0.60 per unit (a "Unit"). Each Unit shall comprise one common share (a "Share") and one non-transferable, common share purchase warrant (a "Warrant") valid for 2 years. Each Warrant will entitle the holder thereof to acquire an additional Share at a price of $0.80 per share during the first year and $0.90 during the second year from the closing of the private placement. If after the expiry of all resale restrictions, the closing price of the Shares on the TSX Venture Exchange is $1.20 or greater for a period of 20 consecutive trading days, the Company may at its election provide notice of an earlier expiry of the Warrants, in which case the Warrants shall expire 21 trading days after giving such notice. A finder's fee of 6.5 percent in Units will be paid on the private placement, which is open to residents of British Columbia, Alberta, Ontario and any other qualifying international jurisdictions.

There can be no assurance that the private placement will be completed as proposed or at all, and it is subject to all applicable regulatory approvals. The proceeds of the offering will be used by Reservoir to support the company's ongoing efforts in the renewable energy sector in Serbia and for general corporate purposes.

About Reservoir

Reservoir Capital Corp. is a Southeast Europe focused project generator, with a mandate to acquire undeveloped natural resource opportunities. The Company is investing primarily in renewable energy, with currently two hydroelectric projects totaling 48MW of capacity undergoing pre-feasibility studies in Serbia. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO" and on the Frankfurt and Berlin exchanges under the 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.

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    President
    +1 (604) 662-8448
    or
    Reservoir Capital Corp.
    Miles Thompson
    Chairman
    +1 (604) 662-8448
    or
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    +1 (604) 662-8448
    or
    Reservoir Capital Corp. - Vancouver
    Julia Maxwell
    Investor Relations
    +1 (604) 662-8448
    +1 (604) 688-1157 (FAX)
    info@reservoircapitalcorp.ca
    or
    Reservoir Capital Corp. - Toronto
    Chris MacIntyre
    Investor Relations
    +1 (416) 640-1932
    www.reservoircapital.ca