Reservoir Capital Corp.: Corporate Update
29 October 2011 - 8:24AM
Marketwired
Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX
VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) is pleased to announce the
appointment of Mr. Michael Brown to the Board of Directors (the
"Board") of the Company.
Mr. Brown is currently Vice President of Energy at Kinross Gold
Corporation. He was previously Business Development Manager at
Pacific Hydro. At Pacific Hydro he opened the company's offices in
Chile 2002 and led the acquisition of two run of river
hydroelectric projects, water rights for 600MW of hydro
development, and led the development and non-recourse project
financing of the 155MW La Higuera and 150MW La Confluencia
run-of-river hydroelectric projects. He also registered La Higuera
as a CDM project under the Kyoto Protocol, the largest
hydroelectric project ever registered at the time, and the first
one in Chile. Prior to this he worked as a Senior Project Geologist
for companies such as Phelps Dodge, Rio Tinto and Homestake. He has
an MBA from the University of Melbourne and a double Science
(Hons-Geology) and Arts Degree from the University of
Melbourne.
Miles Thompson, Executive Chairman of Reservoir, commented,
"We're very fortunate to have Michael Brown joining the board, he
brings with him an independent mindset and a wealth of relevant
experience and will be a valuable addition to the Board as we move
our Brodarevo hydroelectric projects from development into the
financing and construction phase."
Pursuant to the Company's stock option plan, 150,000 incentive
stock options exercisable at $0.65 per share for a period of five
years have been granted to Mr. Brown.
About Reservoir
Reservoir is a renewable energy company, engaged in development
of a 58.4 MW hydroelectric project at Brodarevo in southwest
Serbia. Reservoir holds four geothermal exploration licenses in
Serbia and has applied for three hydroelectric licenses on the
Cehotina River in Bosnia (17.75 MW) and one to develop a 32 MW
project from an existing reservoir dam at Vrutci in Serbia. The
Company has now completed the spin-out of its portfolio of 8
precious and base metal exploration properties in Serbia into
Reservoir Minerals Inc., which should begin trading as a separate
company on the TSX Venture Exchange under the symbol RMC in the
coming days. Reservoir's common shares trade on the TSX Venture
Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges
(symbol "ROC").
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Reservoir Capital Corp. Chris MacIntyre VP Corporate
Development +1 416 703
0010info@reservoircapitalcorp.comwww.reservoircapitalcorp.com
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