Dear Eric Sicre,
NEWS RELEASE
DATE: JUNE 1, 2007
FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V
(Canada): WGP FRANKFURT: WE6.F
DIRECTOR APPOINTED
VANCOUVER,
Canada,
June 1, 2007: Western GeoPower Corp. announces the appointment of Thomas S. Drolet
to the Board of Directors. Mr. Drolet’s extensive experience of working
38 years in the worldwide energy industry will be an important asset in
assisting the company’s expansion as an international developer and
operator of renewable energy projects.
Mr.
Drolet served in a number of senior management positions with Ontario Hydro -
the world’s fourth largest electrical utility – and was President
and CEO of Ontario Hydro International Inc. at the time of his retirement in
1994. He led OHI’s development as a provider of project financing, design
and construction services with annual revenue streams of up to $60 million in
more than 40 countries.
He
subsequently served as Vice President-Corporate Development with Black and
McDonald of Toronto; Managing Director of American Electric Power Resources
– Canada;
and Vice President-International Business with DTE Energy Technologies of
Detroit, Michigan. He currently is President of Canadian Energy Opportunities
Inc. and of Drolet Energy Services L.L.C. of Granite Falls, North Carolina.
“Mr.
Drolet has a unique background in initiating and developing energy projects
around the world,” states Kenneth MacLeod,
President and CEO of Western GeoPower.
“He has provided project assessments, negotiated joint venture
partnerships, and taken direct responsibility for the financing, design,
engineering and construction of energy projects for private corporations,
utilities and governments.
“That
experience will be of great value to Western GeoPower as we carry out our
strategic plan to expand beyond our current geothermal projects in British Columbia and California. Mr. Drolet will be very much a
‘working’ Director in terms of assessing new business opportunities
presented to the Board.”
The
Company has granted Mr. Drolet 300,000 incentive stock options to purchase
capital stock of the Company at a price of $0.32 per share for a period of five
years under the stock option plan.
Corporate
Overview
Western GeoPower Corp. is a renewable
energy company dedicated to the development of geothermal energy projects for
the delivery of clean, baseload electricity generation. The Company is
developing the 25.5 Megawatt (net) geothermal power plant at The Geysers
Geothermal Field in Sonoma County,
California, United
States. The Company is also developing the
South Meager Geothermal Project in British Columbia,
Canada.
On behalf of Western GeoPower Corp.
“Kenneth MacLeod”
Kenneth
MacLeod, President & CEO
Cautionary
Note Regarding Forward-Looking Statements
Statements in this release that are
forward-looking are subject to various risks and uncertainties concerning the
specific factors identified above that reflect the Company’s expectations
and projections about its future results. The Company has tried whenever
possible to identify these forward-looking statements which include but are not
limited to, words such as “anticipates,” believes,”
“estimates,” “expects,” “plans,”
“intends,” “potential,” and similar expressions.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Investors are
cautioned that any such statements are not guarantees of future performance and
that actual results or developments may differ materially from those projected
in the forward-looking statements. The Company disclaims any obligation or
intention to update or to revise any forward-looking statement, whether as a
result of new information, future events or otherwise. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. This news release is not for
dissemination in the United States of America
or to United States of
America news services.
The
TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. For more information or to be put on our email list,
please contact our office: (604) 662-3338 or US/Canada Toll Free:
1-866-662-3322, email: info@geopower.ca
Investor Relations: IR@geopower.ca