|February 08, 2012|
Reservoir Capital Appoints Lewis Reford as Lead Director
|Vancouver, British Columbia (TSX Venture: REO) -- The Board of Directors of Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to announce that Mr. Lewis T. Reford, an independent director of the Company since January 2011, has also agreed to act as Reservoir's Lead Director. Mr. Reford's new role will be to assist in organizing project finance for the Brodarevo hydroelectric project as it nears completion of Feasibility Studies in the coming months and to guide the Company in the evaluation of potential merger and acquisition opportunities.|
Mr. Reford is a veteran energy industry and finance professional with experience in Canada, the U.S. and internationally. Mr. Reford most recently served as Chief Executive Officer of Schneider Power Inc. Prior to his role at Schneider Power Inc., Mr. Reford provided corporate investment consulting services in the renewable energy area. In 2006-2007, he served as president and Chief Executive Officer of MGI Securities, a full-service Canadian brokerage firm and was a Managing Director with J.P. Morgan Securities in New York and Toronto from 1998 to 2005. Prior to his career in investment banking, Mr. Reford worked as a corporate development executive for Total S.A., the Paris-based energy multinational. Mr. Reford currently serves on the Board of Directors of Gazit America (TSX: GAA) and Caldera Geothermal (unlisted).
Miles Thompson, Executive Chairman of Reservoir commented: "Mr. Reford has strong experience in both renewable energy and natural resource finance and we are very fortunate that he has agreed to take a more active role with the Company, given that Brodarevo could be nearing construction, at a time when the prevailing uncertainties in the financial markets are also presenting a number of interesting growth opportunities.
Pursuant to the Company's stock option plan, 200,000 incentive stock options exercisable at $0.60 per share for a period of five years have been granted to Mr. Reford.
Reservoir is a renewable energy company engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir also holds an exploration license at Vranjska Banja in Serbia with estimated potential for 20 MW of geothermal energy and has applied for three hydroelectric concessions on the Cehotina River in Bosnia with a combined 17.75 MW potential. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").
For further information on Reservoir Capital Corp., please consult the Company's website www.reservoircapitalcorp.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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