September 13, 2016 16:49 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 13, 2016) - Reservoir Capital Corp. (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) ("Reservoir" or the "Company") would like to take this opportunity to remind shareholders of the granting of a Management Cease Trade Order ("MCTO") previously announced on August 30, 2016, such MCTO being a result of the Company having exceeded the timing for filing its year-end audited financial statements and accompanying Management Discussion and Analysis (collectively, the "2016 Annual Financial Statements"), such default of which were due to have been completed and filed on August 30, 2016 for the Company's fiscal year end dated April 30, 2016 and that the Company continues to work on completing these statements and as a result is continuing to adhere to the MCTO. The Company will continue to advise shareholders and regulators of the status of the default, via press releases, on a bi-weekly basis until such time as this default is rectified. As previously announced, it is anticipated that the Company will file its 2016 Annual Financial Statements before the end of September 2016.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares, however, all management, officers and directors of the Company will be prohibited from trading in the Company's shares pursuant to the Company's black-out procedures.
Reservoir is a renewable energy company with its principal business the 59.1 MW hydroelectric project in development at Brodarevo on the River Lim, in southern Serbia. 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.
Reservoir Capital Corp.604-662-8448www.reservoircapitalcorp.com
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