Brief: Reservoir Capital announces financing and debt restructuring

Reservoir Capital

09/06/2017 13:00

June 9 (Reuters) - Reservoir Capital Corp  REO.V  
    * Reservoir Capital announces financing and debt 
restructuring 
    * Reservoir Capital Corp -  has entered into an unsecured 
loan agreement to borrow a total of $200,000 
    * Reservoir Capital-agreed with majority of creditors to 
convert about $530,000 in outstanding debt to about 10.6 million 
shares of co at deemed price $0.05/share 
    * Reservoir Capital Corp says loan will mature and be 
repayable in full without interest six months from date of loan 
agreement 
    * Reservoir Capital Corp -  As a result,Miles Thompson, 
director of co, to beneficially own about 19.9 percent of 
issued, outstanding common shares of company 
    * Reservoir Capital Corp -  As a result,  Seabord Services 
Corp to beneficially own and control about 18.15 percent of 
issued, outstanding common shares of co 
    * Reservoir Capital Corp -  shares for debt transaction was 
approved unanimously by all non-interested directors of company 
 
Source text for Eikon:  ID:nCCN5gNySa  
Further company coverage:  REO.V  
 
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