|May 15, 2012|
Reservoir Granted Planning Permission for its Brodarevo Hydroelectric Project in Serbia
|Vancouver, British Columbia (TSX Venture: REO) - Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to report that the Government of the Republic of Serbia has published its approval of the Spatial Plan for Special Purposes, covering the Company's Brodarevo 1 and 2 hydroelectric projects and related infrastructure on the River Lim in southwest Serbia.|
Miljana Vidovic, President and CEO of Reservoir commented: "This is an important step for the Company and we are very pleased to have had our designs for the Brodarevo Projects approved both locally and by the Serbian government."
The Spatial Plan for Special Purposes includes: the dams and power plants for Brodarevo 1 and Brodarevo 2; two new sections of the road between Mijoska and the Montenegro border (total length 7.5 km); new 110 kV power line from Brodarevo to Sjenica (total length 20 km), was processed by the Republic Agency for Spatial Planning in Belgrade in cooperation with the Directorate of Urban Planning in Kragujevac, then delivered to the Commission of the Ministry of Spatial Planning.
The Commission of the Ministry of Spatial Planning approved the documents and submitted them to the local governments of Prijepolje and Sjenica, where there was a 30-day period of public scrutiny from (December 29, 2011 to January 27, 2012), including a presentation to the public that was held on January 18, 2012. The Commission sat again on February 3, 2012 to review results of the local government and public scrutiny, before submitting the plan to the government for the final approval that has now been granted.
Reservoir is a renewable energy company that is engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and is applying for three hydroelectric concessions on the Cehotina River in Bosnia (17.75 MW). 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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