Vancouver, British Columbia--(Newsfile Corp. - November 14, 2017) - I have acquired ownership of 4,400,000 common shares (representing 14.32% of the outstanding shares) of Reservoir Capital Corp. (TSXV: REO) of Vancouver, BC. The common shares were issued at a price of $0.05 per share in settlement of debt owed to me by Reservoir.
Immediately prior to the acquisition, I had ownership of 1,447,708 common shares (representing 7.78% of Reservoir's outstanding common shares) and warrants to purchase an additional 800,000 common shares. If the warrants were exercised, I would have had ownership of 2,247,708 common shares (representing 11.57% of the outstanding shares) of Reservoir.
I now have ownership of 5,847,708 common shares (representing 19.81% of Reservoir's outstanding common shares) and warrants to purchase an additional 800,000 common shares. If the warrants were exercised, I would have ownership of 6,647,708 common shares (representing 21.93% of the outstanding shares) of Reservoir.
The shares were acquired today under section 2.14 [Securities for Debt] of National Instrument 45-106 Prospectus Exemptions of the Canadian Securities Administrators. Presently, I do not have any intention of acquiring any further securities of Reservoir but may acquire ownership of or control over further securities in the future depending upon market circumstances.
I have filed an Early Warning Report with the British Columbia, Alberta and Ontario Securities Commissions in respect of the acquisition. Copies of the Report may be obtained from SEDAR (www.sedar.com) or without charge from Reservoir or me.
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