20.10.2009
Ram Power, Corp. Completes Business Combination With Polaris Geothermal Inc. And Western GeoPower Corp.
Vancouver, British Columbia (October 20, 2009) – Ram Power, Corp. (TSX: RPG) (formerly GTO Resources Inc.) (“Ram”), Polaris Geothermal Inc. (“Polaris”) and Western GeoPower Corp. (“Western”) are pleased to announce that they have completed the previously announced arrangement involving Ram, Polaris and Western under the Business Corporations Act (British Columbia) (the “Arrangement”). Pursuant to the Arrangement, Ram acquired all of the issued and outstanding securities of Polaris and Western. Concurrent with the closing of the Arrangement, Ram completed the acquisition of issued and outstanding shares of Ram Power, Inc. (“Private Ram”), a private Delaware corporation (the “Ram Acquisition”). The Arrangement was approved at meetings of the securityholders of each of Ram, Polaris and Western held on October 15, 2009 and received the final approval of the Supreme Court of British Columbia on October 19, 2009. As a result of the Arrangement and the Ram Acquisition (collectively, the “Business Combination”) each of Polaris, Western and Private Ram are now subsidiaries of Ram.
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15.10.2009
Securityholders Approve Plan of Arrangement Between GTO Resources Inc., Polaris Geothermal Inc. And Western GeoPower Corp.
Vancouver , British Columbia (October 15, 2009) - GTO Resources Inc. (“GTO”) (NEX:GTR.H), Polaris Geothermal Inc. (“Polaris”) (TSX:GEO) and Western GeoPower Corp. (“Western”) (TSX-V:WGP) are pleased to announce that their respective securityholders have approved the previously announced plan of arrangement involving GTO, Polaris and Western under the Business Corporations Act (British Columbia) (the “Arrangement”). The Arrangement received strong support from the securityholders of each of GTO, Polaris and Western. At GTO’s meeting, the Arrangement was approved by approximately 99.9% of the shareholders of GTO. At Polaris’ meeting, the Arrangement was approved by approximately 99.9% of the common shareholders, preferred shareholders and optionholders of Polaris, voting together as a single class; approximately 99.9% of the preferred shareholders, common shareholders, warrantholders and debentureholders, each voting as a separate class; and approximately 99.9% of the common shareholders, voting as a single class (after excluding votes held by “interested parties” in accordance with Multilateral Instrument 61-101). At Western’s meeting, the Arrangement was approved by approximately 99.8% of Western shareholders and optionholders voting together as a single class, 99.8% of Western shareholders voting alone (99.8% after excluding votes held by “interested parties” in accordance with Multilateral Instrument 61-101) and 100% of Western’s warrantholders eligible to vote.
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05.10.2009
Western GeoPower Announces Geysir Green Energy Divests Its Holdings
VANCOUVER, Canada, October 5, 2009, TSX Venture Exchange Trading Symbol: WGP – Western GeoPower Corp. (“WGP”), a renewable energy company, today announced that it has been advised by Geysir Green Energy (“Geysir”) that it has sold 47,333,334 common shares in WGP, representing all of the common shares it held in WGP, at a price of CAD$0.18 per share, for aggregate gross proceeds of CAD$8,520,000. Geysir stated that it sold the common shares as part of its objective to focus on its efforts on increasing installed capacity in operating geothermal power and heating plants in Iceland and China.
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Western GeoPower Corp.