Reservoir Acquires Remaining Land Rights for the Brodarevo-2 Dam Site
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/20/11 -- Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) is pleased to report that it has completed options to purchase the remaining surface rights required for the permitting and development of the Brodarevo-2 Hydroelectric Project ("Project"). The new land optioned covers approximately 0.45 hectares on the left bank of the Lim River between the main road and the proposed construction site of the dam and power plant. Together with the approximately 5.24 hectares of land rights acquired on the right bank (see Company news release of June 13, 2011) the Company has now secured all the rights that are needed to obtain the Location Permit for the Project.
"Reservoir is coming to the end of the process of gathering all the documentation needed for the Brodarevo-2 Location Permit," commented Miles Thompson, Chairman of the Company. "This would not be possible without the good communication we have maintained with the local communities and we remain very appreciative of the support they have given us."
Please see our website: for maps of the Brodarevo-2 site and the new rights acquired.
About Reservoir
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 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 also holds 8 precious and base metal exploration properties in Serbia that, subject to approvals, are to be spun-out into a separately listed company Reservoir Minerals Ltd. (see September 13, 2011 news release). 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
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Datum: 20.09.2011 - 11:30 Uhr
Sprache: Deutsch
News-ID 67480
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Investment Services & Trading
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