NEWS RELEASE
DATE:
NOVEMBER 27,
2008
FOR IMMEDIATE
RELEASE
TRADING
SYMBOLS: TSX-V (Canada):
WGP.V FRANKFURT:
WE6.F
DON J. A. SMITH
APPOINTED AS INTERIM CHIEF FINANCIAL OFFICER
VANCOUVER,
Canada, November 27, 2008, TSX Venture Exchange Trading Symbol: WGP ? Western
GeoPower Corp., a renewable energy
development company, today announced that Don J.A. Smith, C.A., MBA has
assumed the role of Chief Financial Officer and Corporate Secretary of Western
GeoPower Corp. on an interim basis.
Rupi Khanuja
will be on a temporary personal leave from her position of Chief Financial
Officer and Corporate Secretary, but will be available to the company as and
when required.
Mr. Smith brings
significant and relevant experience in the geothermal and mining sectors,
including corporate finance, corporate governance and business
planning. His business career includes serving as Chief Financial
Officer of Nevada Geothermal Power Inc., Primary Metals Inc. and Oremex Resources Inc. Mr. Smith has invaluable financial
experience and knowledge and was instrumental in planning and executing a $29
million refinancing realizing an annual savings of $700,000 for a publicly
listed company. Mr. Smith has provided consulting services to a number
of corporate boards on corporate governance structures and related matters.
He is past
President of the Simon Fraser University (SFU) Alumni Association, a past
Chair of the SFU Chancellor Nominating Committee and a past member of the SFU
University Senate. Mr. Smith currently is a Director and Chairs the
Audit Committee of Coast Wholesale Appliances Income Fund (TSX). Mr.
Smith received an MBA from SFU and is a Member of the Institute of Chartered
Accountants of British Columbia.
?Don?s extensive corporate finance
experience and business planning skills is a welcome asset to Western
GeoPower,? said Kenneth
MacLeod, President and CEO of Western
GeoPower. ?His previous
experience in the geothermal sector will allow us to continue forward
seamlessly until Rupi?s return?.
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 California, United States and 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.
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
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