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VANCOUVER, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) — (CSE: REO) – Reservoir Capital Corp. (“REO” or the “Firm“) proclaims that it continues to work carefully with its auditor to beat delays because of complexities brought on by COVID-19 in Nigeria, Mauritius and Canada in getting ready its monetary statements for the fiscal yr ended December 31, 2020 (the “Annual Monetary Statements“) and associated MD&A and officer certifications (collectively, the “Annual Filings”). On Might 4, 2021, the Firm introduced that it could miss the submitting deadline of April 30, 2021 for its Annual Filings as prescribed by Nationwide Instrument 51-102 – Steady Disclosure Obligations (“NI 51-102”). A administration stop commerce order (“MCTO”) was issued by the British Columbia Securities Fee (the “BCSC”), efficient as of Might 4, 2021, in reference to the submitting delay.
Through the MCTO, the overall investing public will proceed to have the ability to commerce within the Firm’s listed widespread shares; nevertheless, the Firm’s Chief Govt Officer, Chief Monetary Officer and such different administrators, officers and individuals as decided by the relevant regulatory authorities, won’t be able to commerce the Firm’s shares.
The Firm at the moment expects to file the 2020 Annual Monetary Statements on or earlier than June 30, 2021 and can challenge a information launch saying completion of such filings at such time. Till then, the Firm intends to adjust to the provisions of the choice info pointers as set out in Nationwide Coverage 12-203 – Administration Stop Commerce Orders for so long as it stays in default, together with the issuance of bi-weekly default standing studies, every of which might be issued within the type of a information launch. The Firm confirms as of the date of this information launch that there isn’t any different materials info regarding the affairs of the Firm that has not been typically disclosed.
About Reservoir Capital Corp.
REO’s asset portfolio includes minority oblique financial pursuits in clear energy belongings (at the moment 4 hydro energy crops) representing 46.3MW of web working capability.
REO’s 2019 Monetary Assertion (yr ended Dec. 31, 2019) reveals dividend earnings from the Firm’s investments of $1,756,152 in the course of the twelve-month interval.
REO’s Imaginative and prescient & Mission is to assemble a balanced portfolio of manufacturing and near-production clear vitality belongings (with a present give attention to Hydro & Geothermal) in rising economies (with a present give attention to Africa).
REO’s technique to realize its Imaginative and prescient is to method shareholders of privately held high quality belongings and supply them diversification, liquidity and publicity to a rising portfolio assembled following a disciplined funding coverage.
REO’s funding coverage consists primarily in taking rigorously chosen minority financial pursuits in high quality clear energy belongings in key geographies, focusing on common dividend earnings over lengthy durations, whereas providing the potential for capital acquire within the medium time period.
For extra info on the Firm, please go to www.reservoircapitalcorp.com. Buyers are cautioned that buying and selling within the securities of REO must be thought of extremely speculative. Extra info on these and different elements that might have an effect on the operations or monetary outcomes of REO are included in REO’s CSE Itemizing Assertion and most lately filed quarterly report, every of which is filed with relevant Canadian securities regulators and could also be accessed by way of the SEDAR web site (www.sedar.com). The CSE have neither authorised nor disapproved the contents of this information launch.
For any clarification, one might contact:
CEO, Reservoir Capital Corp.
Electronic mail: firstname.lastname@example.org
NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Ahead Wanting Statements
Cautionary Observe Relating to Ahead-Wanting Statements: This information launch comprises “forward-looking statements”, and “forward-looking info” beneath relevant securities legal guidelines. Ahead-looking statements relate to future occasions or future efficiency and replicate the expectations or beliefs concerning future occasions of administration of REO. This info and these statements, referred to herein as “ahead trying statements”, aren’t historic info, are made as of the date of this information launch and embody with out limitation, statements as to administration’s expectations and the potential completion of meant future investments. These statements typically could be recognized by use of forward-looking phrases equivalent to “might”, “will”, “anticipate”, “estimate”, “anticipate”, “poised to”, “hope”, “plans,” “intends”, “consider” or “proceed” or the unfavourable thereof or related variations.
The reader is cautioned that assumptions used within the preparation of any forward-looking info might show to be incorrect. Occasions or circumstances might trigger precise outcomes to vary materially from these predicted, because of quite a few recognized and unknown dangers, uncertainties, and different elements, a lot of that are past the management of the Firm. The reader is cautioned to not place undue reliance on any forward-looking info. Such info, though thought of cheap by administration on the time of preparation, might show to be incorrect and precise outcomes might differ materially from these anticipated. Ahead-looking statements contained on this information launch are expressly certified by this cautionary assertion. The forward-looking statements contained on this information launch are made as of the date of this information launch and the Firm will replace or revise publicly any of the included forward- trying statements as expressly required by relevant regulation.