|January 16, 2019|
Reservoir Capital Corp. receives first US$ dividend
|Vancouver, British Columbia (CSE: REO) - Reservoir Capital Corp. ("REO") is pleased to announce that its subsidiary, Kainji Power Holding Limited ("KPHL") has received on January 16, 2019 a new interim dividend of US$219,639 in respect of Mainstream Energy Solutions Limited's ("MESL") 2018 accounting year. This dividend constitutes the first revenue for REO since the completion of the KPHL transaction (see news release dated September 21, 2018).|
CEO Lewis Reford commented, "Receipt of this dividend validates the premise of our 2018 transaction, through which REO swapped 158.1 million new shares valued at approximately US$7.4 million to acquire a toehold stake in one of Africa's leading clean power generators, by providing our company with the first quality asset and cash flow needed to advance our vision."
KPHL is a single-purpose entity that holds a minority interest in MESL, concessionaire of two leading Nigerian hydro power plants located at Kainji and Jebba on the Niger River with an operating capacity of 922MW. Through its interest in KPHL, REO currently nets approximately 12MW of operating capacity.
About Reservoir Capital Corp.
REO's Vision & Mission is to assemble a portfolio of producing or near-production clean energy assets in emerging markets.
REO's strategy to achieve its Vision is to approach owners of privately-held quality assets and offer their investors diversification, liquidity and exposure to our growing portfolio of assets following a disciplined investment policy.
REO's investment policy consists of taking carefully selected minority economic interests in key geographies, targeting regular dividend income over long periods, while offering the potential for capital gain in the medium term.
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, contact:
Lewis Reford -- CEO of Reservoir Capital Corp.
NEITHER THE CSE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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