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

Reservoir Capital Corp.

November 06, 2015 15:52 ET

Reservoir Capital Corp.: Completion of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2015) -

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

Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) is pleased to announce that it is has completed a non-brokered private placement financing (the "Private Placement") raising $1,000,000 by the issuance of 2,000,000 units at $0.50 per unit. Each unit is comprised of one common share in the capital of the Company (a "Common Share") and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to purchase one Common Share at a price of $0.75 per share for a period of five years. If, after four months from closing, the closing price of the Company's shares on the TSX Venture Exchange exceeds $0.90 for a period of 30 consecutive trading days, the Company may, by notice given and news release issued within two trading days thereof, accelerate the expiry of the warrants to the 20th trading day after such 30 day period.

The Company paid finders' fees of 5% in respect of subscriptions from investors introduced by various finders. The fee was paid in cash ($5,525.00), or at the finder's election, through the issuance of that number of units equal to 5% of the number of units issued pursuant to such subscriptions (5,000 units). Pro Group members purchased 150,000 units of the financing.

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 March 7, 2016.

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

About Reservoir

Reservoir is a renewable energy company engaged in the development of a 59.1 MW hydroelectric project at Brodarevo on the River Lim, the Vranjska Banja geothermal project, both in southern Serbia. Agreements completed with Saxa Gres for the development of new recycling and waste-to-energy businesses near Rome potentially provide a potential new growth business for the Company. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").

For further information on Reservoir Capital Corp., please consult the Company's website www.reservoircapitalcorp.com.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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.

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