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SGP Warrants Expire
Vancouver, British Columbia - Sierra
Geothermal Power Corp. [TSX-V: SRA] (“SGP”) today announced that the 21.6
million warrants issued in a brokered private placement of units that
closed on May 29, 2007 expired yesterday. Although SGP has
previously disclosed that these warrants were to expire on May 29, 2009,
it recently notified the warrant holders that this was an error and
advised them that these warrants would expire at close of business on May
28, 2009. As previously announced on April 21, 2009, SGP proposed
to amend these warrants to reduce the exercise price and extend the term,
but only if all of the warrant holders consented to the proposal. As
not all warrant holders consented to the proposal, the warrants expired
without amendment.
About Sierra Geothermal Power Corp
Sierra Geothermal Power Corp. is a renewable energy company focused on
the exploration and development of clean, sustainable geothermal power. It
is based in Vancouver, British
Columbia and listed on the TSX Venture Exchange under the
symbol SRA. Its portfolio of geothermal projects located in Nevada and California
exceeds 365 square kilometres (90,000 acres)
and has a combined total estimated capacity of greater than 500 MW. SGP
intends to finance development by utilizing a combination of corporate
equity, joint venture partnerships and project debt, with the support of
US government grants and loan guarantees. To find out more about Sierra
Geothermal Power Corp. (TSX-V: SRA) visit our website at www.sierrageopower.com.
On behalf of the Board of Directors
Gary Thompson, P.Geo
President, Chief Executive Officer and Director
Not for
distribution to United States newswire services or for dissemination in
the United States. Any failure to comply with this restriction may
constitute a violation of United
States securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements. Forward-looking
statements are projections of events, revenues, income, future economic
performance or management's plans and objectives for future operations. In
some cases you can identify forward-looking statements by the use of
terminology such as "may", "should",
"anticipates", "believes", "expects",
"intends", "forecasts", "plans",
"future", "strategy", or words of similar meaning. Forward-looking
statements in this press release include statements about the Company’s
intent to finance the development of its projects through a combination
of corporate equity, joint venture partnerships and project debt with the
support of U.S.
government grants and loan guarantees. These statements are only
predictions and involve known and unknown risks, uncertainties and other
factors, including the risks inherent in our industry, the poor capital
markets and other risks identified by us in our periodic filings on SEDAR
(which can be viewed at www.sedar.com). Any of these risks could cause
our or our industry's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels
of activity, performance or achievements expressed or implied by these
forward-looking statements.
While these forward-looking statements and any assumptions upon which
they are based are made in good faith and reflect our current judgment
regarding the direction of its business, actual results will almost
always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggested in this
press release. Except as required by applicable law, including the
securities laws of Canada,
we do not intend to update any of the forward-looking statements to
conform these statements to actual results.
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