About
OLOCORP is a limited liability company registered in
Details of the Transaction
Pursuant to the Agreements, REO acquired the remaining 40% equity stake in OLOCORP through KPHL in exchange for consideration of
Also pursuant to the Agreements, in partial satisfaction of an outstanding debt of the Company in the amount of
Immediately prior to the Transaction, REO had 529,347,377 REO Shares outstanding. Following completion of the Transaction and Debt Settlement, REO has 575,347,377 REO Shares outstanding. The REO Shares issued to the Designated Beneficiaries and EOLO under the Transaction and Debt Settlement are subject to a minimum four-month hold period and restrictions on transfer under Canadian securities law.
In addition to the Transaction, EOLO’s last remaining conditional cash payment of approximately
Late Filing of Financial Statements due to COVID-19 pandemic
REO has postponed filing its annual financial statements, management's discussion and analysis and management information circular for the year ended
About
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 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.
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:
CEO,
Telephone: 416-399-2274
Email: ceo@reservoircap.team
NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF
Forward Looking Statements
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, the filing of the 2019 Annual Documents and REO’s management expectations to file the 2019 Annual Documents within the time period described herein. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations.
These forward looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Important factors that may cause actual results to vary include without limitation, risks relating to the preparation and timing of the filing of the 2019 Annual Documents and general economic conditions.
In making the forward looking statements in this news release, REO has applied several material assumptions, including without limitation that management of REO will be able to file its 2019 Annual Documents within the time period described herein. REO does not assume any obligation to update the forward-looking statements, or to update 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 identifying risks and uncertainties is contained in REO's filings with the Canadian securities regulators, which filings are available at www.sedar.com
Source:
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