VICTORIA, B.C. (Dec. 1, 2022) — Persis congratulates Mrs. Nezhat Khosrowshahi upon her appointment to the Order of British Columbia, the province’s highest honour.

As co-founder of Persis, Mrs. Khosrowshahi has been a tireless supporter of important cultural, educational and social programs that have enriched the lives of British Columbians and made a significant difference in her community in a multitude of ways. She is a founding board member of BC Women’s Hospital Foundation, former chair of the board of directors of the Vancouver Symphony Orchestra (VSO) and a VSO honorary life vice-president. She has been a governor of Simon Fraser University, an honorary governor of the Vancouver Foundation and has served on the boards of Lester B. Pearson United World College of the Pacific, the National Gallery of Canada, the Museum of Vancouver, CBC/Radio-Canada, York House School, YVR Art Foundation, the Nature Conservancy of Canada and the Aga Khan Museum.

As expressed by the Order of British Columbia in its appointment announcement:
“Khosrowshahi is a convenor, a force and a doer. She gathers key people from across sectors and gets them to work together toward the public good. She is a role model for countless women, including young Persian-Canadian women. She listens, acts and builds bridges across social, economic and political lines.”

Reservoir Media, Inc. becomes the first U.S.-based publicly traded independent music company and the first female founded and led publicly traded music company in the U.S.

Common stock will be listed on NASDAQ under the ticker symbol “RSVR”

July 28, 2021, New York — Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir”), an award-winning independent music company, today announced the closing of its previously announced business combination with Roth CH Acquisition II Co. (“ROCC”), a publicly traded special purpose acquisition company formed by Roth Capital Partners and Craig-Hallum Capital Group. Reservoir also announced the closing of its previously announced common stock PIPE of $150 million. The business combination was approved by ROCC’s stockholders at a special meeting of stockholders held on July 27, 2021.

The combined company is named “Reservoir Media, Inc.” Beginning on July 29, 2021, Reservoir’s common stock and warrants are expected to trade on the Nasdaq Capital Market LLC (“Nasdaq”) under the ticker symbol “RSVR” and “RSVRW,” respectively.

Reservoir’s Founder and Chief Executive Officer, Golnar Khosrowshahi, and the current management team will continue to lead Reservoir. Ms. Khosrowshahi stated, “We are so happy with the result of the stockholder meeting and to close the business combination today. This represents an important milestone for our company as we become the first U.S.-based publicly traded independent music company and the first female founded and led publicly traded music company in the U.S.”

Ms. Khosrowshahi went on to say, “Over the last 14 years, the Reservoir team has excelled at enhancing the value of our copyrights and recordings, while building a diverse and high-quality catalog and growing our roster. Our tremendous passion and skills have driven Reservoir to hold a regular Top 10 U.S. market share as reported by Billboard. This entry into the public markets is a testament to the growth and bright future that lies ahead within the industry. As we focus on our growth, our listing on Nasdaq provides us the resources to execute on our penetration into emerging markets and continue rapidly with our strategic acquisitions. I look forward to our next chapter as a publicly traded company.”

Since announcing the business combination in April 2021, Reservoir has made a number of catalog and copyright acquisitions to continue its growth trajectory. This included the acquisition of legendary independent hip-hop and electronic record label Tommy Boy Music, LLC, which comprises over 6,000 master recordings and numerous legacy catalogs. Reservoir has also continued to emphasize its growth in emerging markets with the announcement of becoming a minority partner in Outdustry Limited, China-headquartered music rights and marketing services company.

Plans for a major redevelopment of Wesbild’s University Heights Shopping Centre featuring 597 rental homes, commercial space, transit hub and a daycare are back on track following a seven month procedural delay. 

Wesbild has officially resubmitted plans to the District of Saanich for the $230-million redevelopment of the shopping centre, which now includes an expansion of the popular home improvement retailer Home Depot. 

“We are pleased to re-introduce this important project which will enhance the community with permanent rental homes, affordable rental suites, much needed daycare spaces and transit infrastructure,” said Wesbild President and CEO Kevin Layden. “Pausing the project to sort out procedural details was the right decision and ensures this development is on solid footing.” 

In October, Wesbild placed the project on pause as it negotiated terms with an existing tenant, Home Depot. Productive discussions led to a mutual agreement to expand the Home Depot by 10,000 square-feet, which is the only significant change to the entire re-development. The proposed expansion would enclose an area where the garden centre is currently located. A new garden centre would be attached to the expansion, on what is currently parking area at the north end of the mall property. 

The Home Depot store is expected to remain in operation throughout construction while the balance of the shopping centre is being redeveloped. 

“University Heights Shopping Centre served the community well for decades. But now, with the building at the end of its useful life, this new project will re-energize the entire block for generations to come,” said Layden. 

The project will re-develop the 1980s-era shopping centre with 597-permanent rental homes, 60 affordable rental suites, up to 11,000-square feet of daycare space, cycling infrastructure, public plaza, community spaces, B.C. Transit hub, electric vehicle charging infrastructure and modern, new commercial space. 

Construction on the project, which still requires community input and municipal approvals, could begin as early as spring 2022. The project is estimated to have an economic impact of $410 million to the local economy, creating 309 construction jobs and 209 permanent positions. 

“This valuable project received widespread community support previously and we are hoping that will continue as we re-start consultations with our neighbours,” Layden said. “This re-submission couldn’t have happened without the leadership of Mayor Fred Haynes and the guidance of the District of Saanich planning team. We are sincerely grateful.” 

Music Week announced the nominees for their 2020 awards today, and Reservoir has earned a nomination for Independent Publisher of the Year. The annual ceremony celebrates the “achievements of the top music industry professionals and teams, showcasing top class performance and innovation.”

This marks Reservoir’s fifth nomination at the Music Week Awards, having previously been nominated for an A&R Award in 2019 as well as three nominations in a row for Publisher of the Year.

The 2020 Music Week Awards will take place on May 6th at the Battersea Evolution in London. Click here for more information.