VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2012) -
Reservoir Minerals Inc. (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) ("RMC" or the "Company") is pleased to report that, of the 14,776,150 share purchase warrants ("Warrants") issued on October 13, 2011 as part of its private placement financing, 6,171,767 Warrants have been exercised for proceeds to the Company of $5,554,590.
The closing market price of Reservoir's common shares on the TSX Venture Exchange has been $1.30 or greater for a period of 20 consecutive trading days. Accordingly, pursuant to their terms, the Warrants will now expire at 4:30 p.m. (Vancouver time) on October 4, 2012 (the "accelerated expiry date"). The Company will be providing notice to the Warrantholders of the remaining Warrants of the accelerated expiry date. Each Warrant is exercisable to purchase one common share of the Company at an exercise price of $0.90 up to and including the accelerated expiry date.
About the Company:
Reservoir Minerals Inc. is an international mineral exploration and development company run by a experienced technical and management team, with a portfolio of precious and base metal exploration properties in Serbia and West Africa.
For further information on Reservoir Minerals Inc., please consult our website www.reservoirminerals.com.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contact: Chris MacIntyre
Company Name: Reservoir Minerals Inc.
Contact Title: VP Corporate Development