NEWS RELEASE
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DATE: June 23, 2009
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FOR IMMEDIATE
RELEASE
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TRADING SYMBOLS:
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TSX-V (CANADA): WGP.V
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FRANKFURT: WE6.F
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WESTERN GEOPOWER ANNOUNCES
$3.71 MILLION WARRANTS EXERCISE
VANCOUVER,
Canada, June 23,
2009, TSX Venture Exchange Trading Symbol: WGP Western
GeoPower Corp., a renewable energy company, today announced
the receipt of $3,710,000 from the exercise of 26,500,000 share purchase
warrants which had been issued in January 2009 in partial consideration for a
secured loan facility.
The warrants were exercised by 3 parties:
Amalgamated International Holdings SA exercised 9,000,000 warrants;
Exploration Capital Partners 2008 Limited Partnership exercised 11,136,364
warrants; and Resource Capital Investment Corp. exercised 6,363,636 warrants.
We are pleased to report that the lenders who participated in the
secured loan facilities of late 2008 and early 2009 continue to support the
Company through their exercise of warrants, said Kenneth
MacLeod. President and CEO of Western
GeoPower. The funds will facilitate the ongoing
development of the Western GeoPower
Unit 1 power plant at the Geysers geothermal field in California.
About Western
GeoPower Corp.
Western GeoPower
Corp. is a renewable energy company dedicated to the development of
geothermal energy projects for the delivery of clean, sustainable, baseload
electricity generation. The Company is developing The Western
GeoPower Unit 1 geothermal power plant at The Geysers
Geothermal Field in Sonoma County, California, United States; the South
Brawley geothermal project in Imperial County, California, United States; and
the South Meager geothermal project in British Columbia, Canada.
On behalf of the
Board of Western GeoPower Corp
Kenneth
MacLeod
Kenneth MacLeod,
President & CEO
For
more information or to be put on our email list, please contact Nicole
Robson Marketing
and Media: Office (604) 662-3338 or US/Canada Toll Free: 1-866-662-3322,
email: info@geopower.ca Investor
Relations: ir@geopower.ca
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