Reservoir Capital Corp. Completes Transaction Securing 60% Ownership in OLOCORP Nigeria Ltd

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Vancouver, British Columbia (CSE: REO) Reservoir Capital Corp. (CSE: REO) (“REO” or the  “Company“) is pleased to announce that, through its wholly-owned subsidiary, Kainji Power Holding Limited (“KPHL“), it has completed its previously announced acquisition of a 60% equity stake in OLOCORP Nigeria Ltd. (“OLOCORP“) pursuant to a share sale and purchase agreement dated November 9, 2019 (the “Agreement“) among the Company, KPHL and OLOCORP (the  “Transaction”).

Pursuant to the Transaction, in consideration for 3,000,000 shares of OLOCORP (the “OLOCORP  Shares“), the Company (i) issued 35,000,000 common shares in the capital of REO (the “REO  Shares“) to the designated beneficiaries of OLOCORP (the “New Shareholders“) at a deemed  price of C$0.07 per REO Share; (ii) issued a convertible loan note in the principal amount of

$530,000 bearing interest at 4% quarterly and maturing in 12 months, convertible into 7,571,500

REO Shares at a conversion price of approximately $0.07 per REO Share; and (iii) will pay  US$600,000 in cash in instalments, of which US$220,000 has already been paid.

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As a result of the Transaction, the Company indirectly acquired a just below 1% economic interest in North-South Power Company Limited.

Following the Transaction, REO will have 527,347,377 REO Shares outstanding. The REO Shares issued to the New Shareholders under the Transaction are subject to a minimum four-month hold period and restrictions on transfer under Canadian securities law.

North-South Power Limited (NSP) is the concessionaire and operator of 630MW of operating hydro capacity, comprising the  600MW Shiroro hydropower plant on the Kaduna River and the 30MW Gurara hydropower plant,  also on the Kaduna River in Nigeria. The two facilities are operating under long-term concession agreements and PPAs with the national grid aggregator NBET.

Read Also:  VAT now 7.5% as President Buhari signs 2019 finance bill into law

OLOCORP is a limited liability company registered in Nigeria in 2013 for the main purpose of holding shares in NSP, its registered capital is now 5 million shares of 1 NGN nominal value each and it currently owns 7,297,297 NSP shares.

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REO’s asset portfolio comprises minority indirect economic interests in clean power assets (currently 4 hydropower plants) representing 42.7 MW net operating capacity.

REO’s latest 9 months Financial Statement (ended Sept 30 and filed on Nov 28, 2019,  available on www.sedar.com) shows a dividend income from the company’s investments of

$1,000,649 and operating cash flow from continuing operations of $716,890 during the period.

REO’s Vision & Mission is to assemble a balanced portfolio of producing and near-production clean energy assets in growing economies.

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REO’s strategy to achieve its Vision is to approach shareholders of privately held quality assets and offer them diversification, liquidity and exposure to a growing portfolio assembled following a  disciplined investment policy.

REO’s investment policy consists essentially in taking carefully selected minority economic interests in quality clean power assets in key geographies, targeting regular dividend income over long periods, while offering the potential for capital gain in the medium term.

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Reservoir Capital Corp. Completes Transaction Securing 60% Ownership in OLOCORP Nigeria Ltd - Brand Spur

Mead Johnson Nutrition HK Launches “We CAN Protect the Future” –...

Enabling parents and children to build a greener world by taking their first steps in recycling formula cans

 

HONG KONG SAR - Media OutReach - 10 May 2021 - To encourage Hong Kong citizens to lead greener lives, Mead Johnson Nutrition Hong Kong ("Mead Johnson"), one of the brands under Reckitt Benckiser ("Reckitt"), officially launched its city-wide "We CAN Protect the Future" Formula Cans Recycling Program in early April. Created in partnership with 24-hour online shopping platform, HKTVmall under Hong Kong Television Network Limited ("HKTVmall") and the World Green Organisation ("WGO"), the program aims to raise awareness among the public on the importance of recycling and urge parents to safeguard the future of their children by taking immediate actions to protect the environment and be the role models of green living.


Reservoir Capital Corp. Completes Transaction Securing 60% Ownership in OLOCORP Nigeria Ltd - Brand Spur

According to a recent survey, only around 30% of interviewed parents would recycle the used formula cans in Hong Kong[1]. With collection points at 6 HKTVmall O2O Shops across the city, the Program offers consumers easy access to a reliable channel to recycle and transform their used formula cans into useful raw materials to reduce waste and protect our environment.

The Program accepts cleaned formula cans from all brands and rewards participating parents with HKTVmall e-vouchers that can be used for online purchase[2]. To ensure proper storage and transportation of all collected cans, all brand logos and brand names will be erased before a specialized delivery team transports the cans from HKTVmall O2O Shops to a local recycling plant. The cans will then be destructed and shipped to another facility for further processing. Molten metal will be recycled into raw metal materials for different purposes, such as for construction use.

"Reckitt is driven by its purpose, do the right things, always. Mead Johnson as one for the core brands of Reckitt also upholds this mission, it not only provides high-quality nutrition products, but has been working hand in hand with our consumers to safeguard the environment and nourish the best start in life for more than a century," said Mr. Pankaj Agarwal, Reckitt's General Manager Hong Kong, Taiwan & Cross-Border. "Through the partnership with HKTVmall and WGO to offer a convenient and reliable recycling channel, we hope to empower parents and their children to build recycling habits at an early stage, and hence create a cleaner, healthier world."

Ms. Jelly Zhou, Chief Executive Officer (Hong Kong) at Hong Kong Television Network Limited, added, "HKTVmall is committed to enhancing Hong Kong people's quality of life via innovative technologies. We also highly value social responsibility in promoting a culture of environmental protection and resource conservation. Through this partnership with Mead Johnson and WGO, it not only endows a value to the used items through reducing wastage and promote recycling awareness, but also spread the message of environmental protection to everyone. Let us make changes in our daily lives with everybody's joint efforts, encourage sustainable development for Hong Kong and all over the world." HKTVmall, as co-organiser of the Program, shares their store networks to facilitate the mechanism of the recycling process. It helps mobilizing Hong Kong citizens to join the program in different areas simultaneously and promoting recycling in the city.

WGO acts as the supporting organisation to provide professional advice on improving the overall can recycling experience in this Program. "WGO is pleased to drive the formula cans recycling programme with Mead Johnson and HKTVmall" said Dr. William Yu, Founder & Chief Executive Officer of World Green Organisation. "We look forward to seeing different stakeholders in society, including manufacturers, retailers and the public to join hands and promote recycling, and facilitating a green future for our next generation."

The "We CAN Protect the Future" Formula Can Recycling Programme runs every Monday and Wednesday, from now until 30th June 2021.

For more details, please visit: https://cloud.marketing.hktvmall.com/canrecycle2021


[1] Baby Kingdom Online Survey on formula can recycling habits (2019)

[2] From 7th April to 30th June, participants can redeem an e-voucher (HKTVmall HK$50 Dettol Product or HK$200 Mead Johnson Nutrition Selected Product) for every successful return of a cleaned formula can, up to four e-vouchers per day. Distribution of e-vouchers may vary depending on availability at different shops. E-vouchers are available on a first-come, first-served basis while stocks last and check with the on-duty staff for details on collection day. Offers are subject to Terms and Conditions and can be found here: https://bit.ly/3mtsEJU

About Mead Johnson Nutrition

Mead Johnson Nutrition has been established in 1905. For more than a century, Mead Johnson Nutrition has led the way in developing safe, high-quality, innovative pediatric nutrition products, guided by the mission to nourish the world's children for the best start in life. The brand operates Mead Johnson Pediatric Nutrition Institutes worldwide. These centers connect Mead Johnson Nutrition's researchers to scientists and healthcare professionals around the world, putting the brand at the forefront of pediatric nutrition science.

Mead Johnson Nutrition (Hong Kong) Limited has been landed for a half century, providing Hong Kong parents with high quality, science-based products, various parenting information and professional advice, gaining trust and support from parents.

Mead Johnson Nutrition's scientists and healthcare professionals are paying affords on the formula for children with special nutrition needs and Mead Johnson Nutrition is a very few brands that insists to produce the formula for metabolic disorders' children, giving hopes to them.

For more information visit http://www.meadjohnson.com.hk/

About Reckitt

Reckitt* exists to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. We believe that access to the highest-quality hygiene, wellness and nourishment is a right, not a privilege.

Reckitt is the company behind some of the world's most recognisable and trusted consumer brands in hygiene, health and nutrition, including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, Woolite and more.

Every day, more than 20 million Reckitt products are bought globally. We always put consumers and people first, seek out new opportunities, strive for excellence in all that we do and build shared success with all our partners. We aim to do the right thing, always.

Read Also:  CBN Intervenes in FX Market

We are a diverse global team of more than 43,000 colleagues. We draw on our collective energy to meet our ambitions of purpose-led brands, a healthier planet and a fairer society.

Find out more, or get in touch with us at www.reckitt.com

*Reckitt is the trading name of the Reckitt Benckiser group of companies

About Hong Kong Television Network Limited

Hong Kong Television Network Limited is a Hong Kong-listed company (SEHK: 1137).

Established in 1992, the Group has extensive and successful experience in telecom market liberalization and popularizing advanced technology and applications.

The Company is now developing Hong Kong's largest 24-hour online shopping mall, HKTVmall, which provides one-stop shop services including online shopping, marketing & digital advertising, big data analysis, smart logistics & fulfilment as well as physical O2O stores, and to transform all business operation, trading, retail, finance and daily life onto a single digital online platform. For more information, visit www.hktv.com.hk.

About World Green Organisation

The World Green Organisation (WGO) is an independent non-governmental organisation concerned with environmental conservation and environmentally related livelihood and economic affairs. It provides a holistic approach to a fully integrated three-pronged solution that combines social, environmental and economic dimensions for a paradigm shift towards low-carbon and climate-resilient development pathways.

Through science-based policy research and community projects, the WGO aims to enhance the quality of the environment, promote a greener economy, and improve people's livelihoods. In particular, it will focus on the social concerns of underprivileged groups and on the creation of a green economy, to help realise its vision of sustainable development. For more information, visit www.thewgo.org/website/eng/.

Reservoir Capital Corp. Completes Transaction Securing 60% Ownership in OLOCORP Nigeria Ltd - Brand Spur
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Latest News

Mead Johnson Nutrition HK Launches “We CAN Protect the Future” – Formula Cans Recycling Program with HKTVmall and World Green Organisation

Enabling parents and children to build a greener world by taking their first steps in recycling formula cans

 

HONG KONG SAR - Media OutReach - 10 May 2021 - To encourage Hong Kong citizens to lead greener lives, Mead Johnson Nutrition Hong Kong ("Mead Johnson"), one of the brands under Reckitt Benckiser ("Reckitt"), officially launched its city-wide "We CAN Protect the Future" Formula Cans Recycling Program in early April. Created in partnership with 24-hour online shopping platform, HKTVmall under Hong Kong Television Network Limited ("HKTVmall") and the World Green Organisation ("WGO"), the program aims to raise awareness among the public on the importance of recycling and urge parents to safeguard the future of their children by taking immediate actions to protect the environment and be the role models of green living.


Reservoir Capital Corp. Completes Transaction Securing 60% Ownership in OLOCORP Nigeria Ltd - Brand Spur

According to a recent survey, only around 30% of interviewed parents would recycle the used formula cans in Hong Kong[1]. With collection points at 6 HKTVmall O2O Shops across the city, the Program offers consumers easy access to a reliable channel to recycle and transform their used formula cans into useful raw materials to reduce waste and protect our environment.

The Program accepts cleaned formula cans from all brands and rewards participating parents with HKTVmall e-vouchers that can be used for online purchase[2]. To ensure proper storage and transportation of all collected cans, all brand logos and brand names will be erased before a specialized delivery team transports the cans from HKTVmall O2O Shops to a local recycling plant. The cans will then be destructed and shipped to another facility for further processing. Molten metal will be recycled into raw metal materials for different purposes, such as for construction use.

"Reckitt is driven by its purpose, do the right things, always. Mead Johnson as one for the core brands of Reckitt also upholds this mission, it not only provides high-quality nutrition products, but has been working hand in hand with our consumers to safeguard the environment and nourish the best start in life for more than a century," said Mr. Pankaj Agarwal, Reckitt's General Manager Hong Kong, Taiwan & Cross-Border. "Through the partnership with HKTVmall and WGO to offer a convenient and reliable recycling channel, we hope to empower parents and their children to build recycling habits at an early stage, and hence create a cleaner, healthier world."

Ms. Jelly Zhou, Chief Executive Officer (Hong Kong) at Hong Kong Television Network Limited, added, "HKTVmall is committed to enhancing Hong Kong people's quality of life via innovative technologies. We also highly value social responsibility in promoting a culture of environmental protection and resource conservation. Through this partnership with Mead Johnson and WGO, it not only endows a value to the used items through reducing wastage and promote recycling awareness, but also spread the message of environmental protection to everyone. Let us make changes in our daily lives with everybody's joint efforts, encourage sustainable development for Hong Kong and all over the world." HKTVmall, as co-organiser of the Program, shares their store networks to facilitate the mechanism of the recycling process. It helps mobilizing Hong Kong citizens to join the program in different areas simultaneously and promoting recycling in the city.

WGO acts as the supporting organisation to provide professional advice on improving the overall can recycling experience in this Program. "WGO is pleased to drive the formula cans recycling programme with Mead Johnson and HKTVmall" said Dr. William Yu, Founder & Chief Executive Officer of World Green Organisation. "We look forward to seeing different stakeholders in society, including manufacturers, retailers and the public to join hands and promote recycling, and facilitating a green future for our next generation."

The "We CAN Protect the Future" Formula Can Recycling Programme runs every Monday and Wednesday, from now until 30th June 2021.

For more details, please visit: https://cloud.marketing.hktvmall.com/canrecycle2021


[1] Baby Kingdom Online Survey on formula can recycling habits (2019)

[2] From 7th April to 30th June, participants can redeem an e-voucher (HKTVmall HK$50 Dettol Product or HK$200 Mead Johnson Nutrition Selected Product) for every successful return of a cleaned formula can, up to four e-vouchers per day. Distribution of e-vouchers may vary depending on availability at different shops. E-vouchers are available on a first-come, first-served basis while stocks last and check with the on-duty staff for details on collection day. Offers are subject to Terms and Conditions and can be found here: https://bit.ly/3mtsEJU

About Mead Johnson Nutrition

Mead Johnson Nutrition has been established in 1905. For more than a century, Mead Johnson Nutrition has led the way in developing safe, high-quality, innovative pediatric nutrition products, guided by the mission to nourish the world's children for the best start in life. The brand operates Mead Johnson Pediatric Nutrition Institutes worldwide. These centers connect Mead Johnson Nutrition's researchers to scientists and healthcare professionals around the world, putting the brand at the forefront of pediatric nutrition science.

Mead Johnson Nutrition (Hong Kong) Limited has been landed for a half century, providing Hong Kong parents with high quality, science-based products, various parenting information and professional advice, gaining trust and support from parents.

Mead Johnson Nutrition's scientists and healthcare professionals are paying affords on the formula for children with special nutrition needs and Mead Johnson Nutrition is a very few brands that insists to produce the formula for metabolic disorders' children, giving hopes to them.

For more information visit http://www.meadjohnson.com.hk/

About Reckitt

Reckitt* exists to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. We believe that access to the highest-quality hygiene, wellness and nourishment is a right, not a privilege.

Reckitt is the company behind some of the world's most recognisable and trusted consumer brands in hygiene, health and nutrition, including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, Woolite and more.

Every day, more than 20 million Reckitt products are bought globally. We always put consumers and people first, seek out new opportunities, strive for excellence in all that we do and build shared success with all our partners. We aim to do the right thing, always.

We are a diverse global team of more than 43,000 colleagues. We draw on our collective energy to meet our ambitions of purpose-led brands, a healthier planet and a fairer society.

Find out more, or get in touch with us at www.reckitt.com

*Reckitt is the trading name of the Reckitt Benckiser group of companies

About Hong Kong Television Network Limited

Hong Kong Television Network Limited is a Hong Kong-listed company (SEHK: 1137).

Established in 1992, the Group has extensive and successful experience in telecom market liberalization and popularizing advanced technology and applications.

The Company is now developing Hong Kong's largest 24-hour online shopping mall, HKTVmall, which provides one-stop shop services including online shopping, marketing & digital advertising, big data analysis, smart logistics & fulfilment as well as physical O2O stores, and to transform all business operation, trading, retail, finance and daily life onto a single digital online platform. For more information, visit www.hktv.com.hk.

About World Green Organisation

The World Green Organisation (WGO) is an independent non-governmental organisation concerned with environmental conservation and environmentally related livelihood and economic affairs. It provides a holistic approach to a fully integrated three-pronged solution that combines social, environmental and economic dimensions for a paradigm shift towards low-carbon and climate-resilient development pathways.

Through science-based policy research and community projects, the WGO aims to enhance the quality of the environment, promote a greener economy, and improve people's livelihoods. In particular, it will focus on the social concerns of underprivileged groups and on the creation of a green economy, to help realise its vision of sustainable development. For more information, visit www.thewgo.org/website/eng/.

Reservoir Capital Corp. Completes Transaction Securing 60% Ownership in OLOCORP Nigeria Ltd - Brand Spur
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