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Western Geopower Corp

Published : June 01st, 2007

appointment of Thomas S. Drolet to the Board of Directors

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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

Western Geopower Corp

CODE : WGP.V
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Western Geopower is a development stage company based in Canada.

Western Geopower is listed in Canada and in Germany. Its market capitalisation is CA$ 49.1 millions as of today (US$ 48.8 millions, € 32.6 millions).

Its stock quote reached its highest recent level on December 31, 2004 at CA$ 2.13, and its lowest recent point on October 10, 2008 at CA$ 0.12.

Western Geopower has 233 652 000 shares outstanding.

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Financings of Western Geopower Corp
6/24/2009$3.71 Million Warrants Exercise
Nominations of Western Geopower Corp
2/15/2008Mike Long Appointed Operations Manager
6/1/2007appointment of Thomas S. Drolet to the Board of Directors
Corporate news of Western Geopower Corp
9/2/2009resignation of Kenneth MacLeod as President
7/15/2009Preliminary results of reservoir modeling
6/26/2009Welcomes new directors
5/28/2009Change in directors of Western Geopower
5/15/2009View the Shades of Green Episode
2/18/2009Kenneth MacLeod Interview - BNN's Trading Day
1/27/2009SECURES ADDITIONAL US$11 MILLION SECURED LOAN FACILITY
2/6/2009Turbine Update
1/21/2009Obama's Economic Stimulus Plan - How will it benefit us?
1/6/2009DRAWS DOWN SECOND TRANCHE OF US$8.52 MILLION UNDER ITS SECUR...
1/6/2009COMPLETES FIRST PHASE OF GEYSERS DRILLING
11/27/2008DON J. A. SMITH APPOINTED AS INTERIM CHIEF FINANCIAL OFFICER
11/10/2008SECURES US$11 MILLION SECURED LOAN FACILITY
9/2/2008FIRST TWO GEYSERS WELLS DEMONSTRATE 12.6 MW INITIAL CAPACITY
8/7/2008ANNOUNCES $25 MILLION FINANCING
5/20/2008SIGNS $500 MILLION POWER PURCHASE AGREEMENT WITH NCPA
5/6/2008GEYSERS WELL DEMONSTRATES 10 MW INITIAL CAPACITY
4/24/2008Geysers "Rig Test" Indicates Commercial Well
4/10/2008LAUNCHES OPERATIONS IN CHILE
4/9/2008GEYSERS PLANT CAPACITY INCREASED TO 35 MWe – TURBINE ORDERED
3/31/2008CEOCFO Interview
7/5/2007's Geysers Leasehold Expanded to Over 1,000 Acres
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TSX-V (WGP.V)FRANKFURT (WE6.F)
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