Reservoir Granted Extensions for the Brodarevo 1 and 2 Energy Licenses
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/22/11 -- Reservoir Capital Corp. (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) ('Reservoir' or the 'Company') is pleased to report that its wholly-owned subsidiary REV d.o.o. ('REV'), has been granted one-year extensions for its Brodarevo-1 and Brodarevo-2 Energy Licenses through January 28, 2012. The Company is developing run-of-river hydroelectric projects with a combined 58.4 megawatts of power generating capacity at Brodarevo, on the River Lim in Southwest Serbia. The extensions, granted by the Serbian Ministry of Mines and Energy, give the Company time to complete the remaining studies and file applications for the building permits to begin construction of the projects.
Miljana Vidovic, President and CEO of Reservoir commented, 'We are very grateful for the continued support and encouragement the Company has received from the Serbian Government and the Ministry of Mining and Energy, to build a privately owned and funded renewable energy business in the country.'
Over 30% of Serbia's current power generating capacity is hydroelectric, most of which is run-of-river.
About Reservoir
Reservoir is a renewable energy company, focused on development of the 58.4 MW Brodarevo hydroelectric projects in southwest Serbia. Reservoir has a further 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. 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
381 63 57 14 25 or 1 416 703 0010
info@reservoircapitalcorp.com
www.reservoircapital.ca