VANCOUVER, BRITISH COLUMBIA--(Marketwire -11/01/11)- Reservoir Minerals Inc. ("Minerals" or the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has issued an Exchange Bulletin on October 31, 2011 with respect to the listing of the Company's common shares ("Common Shares") on the Exchange. It is currently anticipated that trading of the Common Shares on the Exchange will commence on Tuesday, November 1, 2011 under the symbol RMC.
The Company also announces that it has adopted an audit committee comprised of Geoff Chater (independent), David Knox (independent) and Simon Ingram, a compensation committee comprised of Geoff Chater (independent), David Knox (independent) and Miles Thompson and a corporate governance committee comprised of Geoff Chater (independent), David Knox (independent) and Michael Winn.
Minerals also announces that its board of directors has granted stock options in respect of an aggregate of 1,535,000 Common Shares to the directors and officers of Minerals and an additional aggregate of 380,000 Common Shares to employees or other service providers of Minerals and its subsidiaries. The exercise price of the options is $0.65 per share, with each stock option entitling the holder to purchase one Common Share for a period of five years.
Minerals currently has 26,106,132 Common Shares issued and outstanding, including those Common Shares distributed to Reservoir Capital Corp. shareholders pursuant to the closing of the plan of arrangement and Common Shares resulting from the conversion of subscription receipts of the Company as further described in the joint press release of the Company and Reservoir Capital Corp. dated October 14, 2011.
About the Company
Reservoir Minerals Inc. is an international mineral exploration and development company run by a seasoned technical and management team, with a portfolio of precious and base metal exploration properties in Serbia.
Except for statements of historical fact relating to the Company, some statements in this news release contain forward-looking statements and information ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intent", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These statements include, but are not limited to, statements with respect to the anticipated trading of the Common Shares of Minerals on the TSXV. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors and assumptions include, among others, the effects of general economic conditions, the price of natural resources, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information.
In addition, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; the uncertainties involved in interpreting drilling results and other ecological data; fluctuating metal prices; the possibility of project cost overruns or unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters of the Company with certain other projects; currency fluctuations; competition; dilution and other risks and uncertainties. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, expect as required by applicable securities law. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.