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    REO   CA7611252023

RESERVOIR CAPITAL CORP.

(REO)
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Reservoir Capital Corp :. Appoints new Chief Financial Officer

12/31/2020 | 08:21am EDT

VANCOUVER, British Columbia, Dec. 31, 2020 (GLOBE NEWSWIRE) -- (CSE: REO) - Reservoir Capital Corp. (CSE: REO) ("REO" or the "Company") is pleased to announce that, effective January 1, 2021, Mr. Omar Gonzalez will serve as the Company’s new Chief Financial Officer ("CFO"). Mr. Gonzalez will oversee all accounting and finance functions, while ensuring all financial solutions support REO’s growth strategy, vision and mission.

Mr. Gonzalez has twenty years’ experience as an accountant with a CPA designation, most recently serving as Senior Manager with full-service Canadian accounting firm MNP. Mr. Gonzalez has worked with numerous resource-oriented and real asset companies including a number with emerging markets exposure.

"We are thrilled to welcome Omar to Reservoir’s management team," stated Lewis Reford, REO's CEO. "His addition as CFO will contribute to the Company’s mission and to the organization as a whole."

Mr. Gonzalez will replace Aamer Siddiqui as CFO of the Company. Mr. Reford and the Board would like to thank Mr. Siddiqui for his contribution to REO’s recent transition to a profitable clean power business.

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 (year ended Dec. 31, 2019) shows dividend income from the Company’s investments of $1,756,152 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.

Further Information

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: ceo@reservoircap.team

NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward Looking Statements

Cautionary Note Regarding Forward-Looking Statements: 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.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward- looking statements as expressly required by applicable law.


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Source: Reservoir Capital Corp.

2020 GlobeNewswire, Inc., source Press Releases - Canada

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Financials
Sales 2019 1,76 M 1,40 M 1,40 M
Net income 2019 0,18 M 0,14 M 0,14 M
Net cash 2019 0,16 M 0,13 M 0,13 M
P/E ratio 2019 100x
Yield 2019 -
Capitalization 10,1 M 8,05 M 8,06 M
EV / Sales 2018 15,8x
EV / Sales 2019 15,0x
Nbr of Employees -
Free-Float 37,6%
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Managers and Directors
Lewis T. Reford President, Chief Executive Officer & Director
Omar Gonzalez Chief Financial Officer
Vincent Gueneau Non-Executive Chairman
Andrea M. Zaradic Independent Director
Vianney Mathonnet Independent Director