VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 09/29/14 — Reservoir Capital Corp. (“Reservoir” or the “Company”) (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) is pleased to report that it has acquired full ownership of the private land needed to construct the Brodarevo-2 hydroelectric dam and related infrastructure. Completion of this purchase was one of the final steps towards the issuance of building permits for the project.
Reservoir completed positive feasibility studies for the Brodarevo hydroelectric projects in 2012 and has since been working to conclude agreements with the Serbian government for use of government-owned land affected by the project. The Company is also awaiting ratification of the Bilateral Agreement on Energy between the governments of Italy and Serbia that would secure a viable feed-in-tariff for the power to be produced from the projects.
About Reservoir
Reservoir is a renewable energy company engaged in the development of a 59.1 MW hydroelectric project at Brodarevo on the River Lim, the Vranjska Banja geothermal project, both in southern Serbia. Proposed agreements with Saxa Gres also provide an important new growth business for the Company in well-regulated Italian market. 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 0010