About
OLOCORP is a limited liability company registered in
Details of the Transaction
According to the Agreement, REO will acquire from the Vendors the remaining 40% equity stake in OLOCORP in exchange for a consideration of
Furthermore, forming part of the Agreement, EOLO’s existing Convertible Loan Note of
Upon completion of the Transaction, REO will have at least 575,007,377 common shares outstanding, and up to a maximum of 575,347,377 shares if certain conditions are met. The REO Shares issued under the Transaction are subject to a minimum four-month hold period and restrictions on transfer under Canadian securities law. Some other terms and conditions provide guidance and incentives for potential follow-on transactions by mutual agreement which will be subject to contract.
OLOCORP MD Eric OLO stated, “I am confident that this transaction will prove to be a good investment for myself, the
REO CEO
REO Chairman Engr.
About
REO’s asset portfolio comprises minority indirect economic interests in clean power assets (currently 4 hydro power plants) representing 42.7 MW net operating capacity prior to the above transaction, increasing to 46.3 MW upon its consummation.
REO’s latest 9 months Financial Statement (ended
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
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,
Telephone: 416-399-2274
Email: ceo@reservoircap.team
NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF
Source:
2020 GlobeNewswire, Inc., source