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    REO   CA7611252023

RESERVOIR CAPITAL CORP.

(REO)
  Report
Delayed Quote. Delayed CANADIAN NATIONAL STOCK EXCHANGE - 05/03 03:28:15 pm
2.3 CAD   +10.58%
02/05RESERVOIR CAPITAL CORP  : . involved in Lawsuit with Nigerian Shareholder
AQ
2020RESERVOIR CAPITAL CORP  : . Appoints new Chief Financial Officer
AQ
2020RESERVOIR CAPITAL CORP. : REVERSE SPLIT: 1 of 100
FA
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Reservoir Capital Corp :. Completes Transaction Securing 100% Ownership in Olocorp Nigeria Ltd Adding 3.7MW Net Operating Capacity

04/20/2020 | 07:22am EDT

Reservoir Capital Corp. (CSE: REO) ('REO' or the 'Company') is pleased to announce that, through its wholly-owned subsidiary, Kainji Power Holding Limited ('KPHL'), it has completed the previously announced acquisition of Olocorp Nigeria Ltd. ('OLOCORP') pursuant to a share sale and purchase agreement and amending agreement (the 'Agreements') among the Company, OLOCORP, Clara Olo and OLOCORP's major shareholder Eric Olo ('EOLO').

Pursuant to the Agreements, REO acquired the remaining 40% equity stake in OLOCORP in exchange for REO issuing, among other things, a total of 38 million new REO common shares ('REO Shares'), as more particularly described below (the 'Transaction').

About Olocorp Nigeria Limited

OLOCORP is a limited liability company registered in Nigeria in 2013 for the main purpose of holding shares in North South Power Company Ltd ('NSP'), and currently owns 7,297,297 NSP shares. The consummation of the Transaction makes OLOCORP a wholly-owned subsidiary and will add 3.7MW of net operating hydropower capacity to the Company.

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.

Contact:

Tel: 416-399-2274

Email: ceo@reservoircap.team

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 4 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

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about RESERVOIR CAPITAL CORP.
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2020RESERVOIR CAPITAL CORP  : . Appoints new Chief Financial Officer
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2020RESERVOIR CAPITAL CORP. : REVERSE SPLIT: 1 of 100
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Financials
Sales 2019 1,76 M 1,45 M 1,45 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 13,2 M 10,9 M 10,9 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
NameTitle
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