| June 19, 2007 Clarification of Press Release | |
| Vancouver, British Columbia, June 19, 2007 (TSX Venture: REO) - Reservoir Capital Corp. ("Reservoir" or the "Company") wishes to clarify its press release of June 15, 2007 to indicate that all common shares in the capital of Reservoir ("Common Shares"), all non-transferable Common Share Purchase warrants ("Warrants") and all finder's fee Warrants ("Finder's Fee Warrants") issued pursuant to the Corporation's private placement ("Private Placement") of units ("Units") which closed on June 15, 2007, are subject to a four month hold period expiring October 16, 2007. On June 15, 2007, the Corporation closed the Private Placement and issued an aggregate of 2,700,000 Units at a price of $0.80 per Unit for aggregate gross proceeds of $2,160,000. Each Unit consists of one Common Share and one-half Warrant. Each whole Warrant will entitle the holder thereof to acquire an additional Common Share at a price of $1.10 per share for a period of two years from the closing of the Private Placement. A finder's fee in Finder's Fee Warrants equal to 8% of the number of Units sold pursuant to the Private Placement has been paid to certain arm's length finder's. One Finder's Fee Warrant will entitle the holder to purchase one Common Share at a price of $0.80 per share for a period of two years from the closing of the Private Placement. | |
You can view the Next News item: Tue Jul 3, 2007, Reservoir and Phelps Dodge Exploration Corp. to Explore Together at Rakita in Serbia You can view the Previous News item: Fri Jun 15, 2007, SUCCESSFUL COMPLETION OF $2,160,000 PRIVATE PLACEMENT You can return to the main News page, or press the Back button on your browser. |
