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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 29, 2016) - Reservoir Capital Corp., ("Reservoir" or the "Company") (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) reports the expiry of the Letter of Intent ("LOI") signed with A2A S.p.A. ("A2A") to complete exclusive negotiations and due diligence on the Company's Brodarevo hydroelectric power project ("HPP") in southern Serbia. The LOI was originally signed in October 2015 and then extended in December 2015, through until February 29, 2016.
A2A's technical and commercial teams have been conducting due diligence on the Company's Serbian subsidiary REV D.o.o., and its Brodarevo HPP. A2A's exclusivity period under the LOI has now expired and, while the Company remains keen to complete a transaction with A2A, the intention is to also work with Reservoir's Italian partner to engage with other parties that have expressed interest in looking at the project in recent months.
Reservoir is a renewable energy company with its principal business the 59.1 MW hydroelectric project in development at Brodarevo on the River Lim, in southern Serbia. 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.