BOISE, IDAHO--(Marketwired - Aug 10, 2015) - U.S. Geothermal Inc. (NYSE MKT:HTM) (TSX:GTH) (the "Company") a leading renewable energy company focused on the development, production, and sale of electricity from geothermal energy, today announced that its Board of Directors has authorized the repurchase of up to $2.0 million of the Company's outstanding common stock through the end of July 2016. In addition, its Board of Directors has taken steps to evaluate other strategic alternatives in order to increase shareholder value.
The Company has not set a definitive timetable for completion of its evaluation and there are no assurances that the process will result in any transaction being announced or completed. The Company does not intend to comment further regarding the evaluation of strategic alternatives, unless the Company proceeds with a specific transaction or the process is concluded.
About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading and profitable renewable energy company focused on the development, production and sale of electricity from geothermal energy. The company is currently operating geothermal power projects at: Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho for a total power generation of approximately 45 MWs which are fully contracted plants, collectively generating annually over $31 million in consolidated revenue, more than $17 million in consolidated adjusted EBITDA, and yielding approximately $10 million in free cash flow to the Company. U.S. Geothermal's growth strategy is to reach 200 MWs of generation by 2020 through a combination of internal development and strategic acquisitions.
About Marathon Capital:
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, structuring and raising debt, equity, tax equity capital, financial restructuring, and workout situations in the global energy and infrastructure markets. Marathon Capital is a two-time recipient of the "Best Renewable Asset M&A Advisor" award in Power Finance & Risk's Annual Power Finance Deals and Firms Awards (2013 & 2014). For more information, visit www.marathon-cap.com.
Please visit our Website at: http://www.usgeothermal.com
The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned to review the risk factors identified by the company in its filings with US and Canadian securities agencies. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of U.S. Geothermal, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," and similar expressions, or statements that events, conditions, or results "will," "may," "could," or "should" occur or be achieved. These forward-looking statements may include statements regarding the level of stock repurchases, if any; continued liquidity and available cash flow to fund repurchases, if any; method and timing of share repurchases, the availabilty of strategic alternatives or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from U.S. Geothermal's expectations include the uncertainties involving the availability of financing in the debt and capital markets; uncertainties involved in the interpretation of results of well tests; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals; risks of construction; unexpected cost increases, which could include significant increases in estimated capital and operating costs; and other risks and uncertainties disclosed in U.S. Geothermal's Annual Report on Form 10-K for the year ended December 31, 2014 filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities and in other U.S. Geothermal reports and documents filed with applicable securities regulatory authorities from time to time. Forward-looking statements are based on management's expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management's expectations, beliefs, or opinions, or other factors, should change.
The NYSE MKT and the TSX do not accept responsibility for the adequacy of this release.