30.07.2009
Western GeoPower Obtains US$1.35 Million Increase To Secured Loan Facility
VANCOUVER, Canada, July 30, 2009, TSX Venture Exchange Trading Symbol: WGP – Western GeoPower Corp., a renewable energy company, today announced that it has obtained an increase in the amount available under its existing secured loan facility (previously announced on January 26, 2009) from US$11 million to US$12.35 million. Under the terms of the amended loan facility, the additional tranche of US$1.35 million will be available to the company when certain conditions precedent to that tranche have been met, which are the discharge of any liens other than permitted liens, payment of certain lending fees and expenses, and that no event of default then exists. Interest will be payable on this new tranche at a rate of 1.25% per month and the new tranche will be repayable on June 30, 2010.
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22.07.2009
Western GeoPower Announces Approval Of Environmental Document And Conditional Use Permit
Vancouver, Canada, July 22, 2009, TSX Venture Exchange Trading Symbol: WGP – Western GeoPower Corp., a renewable energy company, today announced the achievement of two major regulatory milestones for the Western GeoPower Unit 1 project at The Geysers geothermal field in California, with the receipt of approvals for both the Environmental Document and the Conditional Use Permit.
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15.07.2009
Geothermal Power Companies Announce Intent to Combine Businesses and Concurrently Raise $100 Million Equity Financing
Vancouver, Canada, July 15, 2009, GTO Resources Inc. (NEX:GTR.H) ("GTO"), Polaris Geothermal Inc. (“Polaris”; TSX:GEO), Western GeoPower Corp. (“Western”; TSX-V:WGP) and Ram Power, Inc., a private Delaware corporation (“Ram”) are pleased to announce that they have entered into a letter of intent dated July 14, 2009 (“LOI”) with respect to a proposed business combination to create a new, publicly-traded geothermal power company (the “Transaction”). The LOI is in addition to the letter of intent with Ram announced by GTO on June 30, 2009.
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