VANCOUVER, British Columbia, June 30, 2020 — (CSE: REO) – Reservoir Capital Corp. (CSE: REO) (“REO” or the “Company“) announces that it has filed its annual financial statements for the fiscal year ended December 31, 2019 (the “Annual Financial Statements“), related management’s discussion and analysis (“MD&A”) and officer certificates on www.sedar.com, as required by applicable Canadian securities laws. The Company has worked closely with its auditor to overcome delays as a result of complexities caused by COVID-19 in Nigeria, Mauritius and Canada, and is now current on its continuous disclosure.
On June 11, 2020, the Company announced that it would likely miss the filing deadline of June 15, 2020 to file its Annual Financial Statements, related MD&A and the related officer certifications for the financial year ended December 31, 2019 (collectively, the “Annual Filings”). A management cease trade order (“MCTO”) was issued by the British Columbia Securities Commission (the “BCSC”), effective as of June 17, 2020, in connection with the filing delay.
The Company is providing this status update in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The Company confirms as of the date of this news release that there is no other material information concerning the affairs of the Company that has not been generally disclosed. Upon the filing of the Annual Filings, the Company believes that it has satisfied the conditions of the BCSC and OSC in order to have the MCTO lifted.
About Reservoir Capital Corp.
REO’s asset portfolio comprises minority indirect economic interests in clean power assets (currently 4 hydro power plants) representing 46.3MW of net operating capacity.
REO’s 2019 Financial Statement (ended Dec 31, 2019) shows dividend income from the Company’s investments of $1,756,152 and net income of $380,729 during the twelve-month period.
REO’s Vision & Mission is to assemble a balanced portfolio of producing and near-production clean energy assets (with a current focus on Hydro & Geothermal) in growing economies (with a current focus on Africa).
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.
For more information on the Company, please visit www.reservoircapitalcorp.com . Investors are cautioned that trading in the securities of REO should be considered highly speculative. Additional information on these and other factors that could affect the operations or financial results of REO are included in REO’s CSE Listing Statement and most recently filed quarterly report, each of which is filed with applicable Canadian securities regulators and may be accessed through the SEDAR website (www.sedar.com). The CSE have neither approved nor disapproved the contents of this news release.
For any clarification, one may contact:
Lewis Reford CEO, Reservoir Capital Corp. Telephone: 416-399-2274 Email: [email protected]
NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.