VANCOUVER, British Columbia, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Reservoir Capital Corp. (REO.CN) ("REO" or the “Company”) announced it has cancelled a non-brokered private placement previously announced on December 11, 2019 due to adverse market conditions.
CEO Lewis Reford commented, “The planned offering was intended to add to REO’s existing cash position in anticipation for future transactions but was not a necessity for the Company. REO shall revert to the market should it contemplate a transaction requiring additional funding.”
About Reservoir Capital Corp.
REO’s current asset portfolio comprises minority indirect economic interests in clean power assets (currently 4 hydro power plants) representing 42.7 MW of net operating capacity.
REO’s Vision & Mission is to assemble a balanced portfolio of producing and near-production clean energy assets in growing economies.
REO’s strategy to achieve its Vision is to approach shareholders of privately held quality assets and offer them diversification, liquidity and exposure to a growing portfolio assembled following a disciplined investment policy.
REO’s investment policy consists essentially in taking carefully selected minority economic interests in quality clean power assets in key geographies, targeting regular dividend income over long periods, while offering the potential for capital gain in the medium term.
Forward Looking Statements and Further Information
Certain information set forth in this news release contains “forward-looking statements”, and “forward-looking information” under applicable securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of REO. This information and these statements, referred to herein as "forward looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements as to management's expectations and the possible completion of intended future investments. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", “poised to”, “hope”, "plans," "intends", "believe" or "continue" or the negative thereof or similar variations.
REO does not assume any obligation to update the forward-looking statements, or to update all or any of the reasons why actual results could differ from those reflected in the forward looking-statements, unless and until required by applicable securities laws. Additional information on the Company, including identifying risks and uncertainties, is contained in REO's filings with the Canadian securities regulators, which filings are always available at www.sedar.com and on the Company’s website, www.reservoircapitalcorp.com. Investors are cautioned that trading in the securities of REO should be considered highly speculative. The CSE have neither approved nor disapproved the contents of this news release.
For any clarification, one may contact:
CEO, Reservoir Capital Corp.
NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.