WESTERN GEOPOWER PRESIDENT & CEO MACLEOD RESIGNS
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ NEWS RELEASEDATE: September 1,2009 FOR IMMEDIATERELEASETRADING SYMBOLS: TSX-V (CANADA): WGP.V FRANKFURT:WE6.F WESTERN GEOPOWER PRESIDENT & CEO MACLEOD RESIGNSVANCOUVER, Canada, September 1, 2009, TSX Venture Exchange TradingSymbol: WGP - Western GeoPower Corp., a renewable energy company,today announced the resignation of Kenneth MacLeod as President, CEOand a Director of the company effective immediately. Daryl Clark hasbeen named President & CEO on an interim basis, also effectiveimmediately.The changeover reflects the expected completion of the previouslydisclosed business combination between Western GeoPower and two othergeothermal companies, resulting in a more broadly diversified entityunder the leadership of Hezy Ram and the Ram Power management team."Ken's leadership of Western GeoPower since its launch in 2001 hasbeen a significant contributor to the company's ongoing success. Hewas instrumental in creating a strategic vision and implementing aplan to make Western GeoPower an important geothermal developer inNorth America," said Daryl Clark, Chairman of Western GeoPower. "Onbehalf of the Board of Directors, we wish him the very best in hisfuture endeavors.""I have enjoyed the opportunity to lead Western GeoPower for overseven years", said Mr. Macleod. "We have assembled a strongtechnical team and are well positioned to transition from a standalone development stage company to become part of a larger, wellcapitalized company through the proposed business combination. Thenew company will have a broad and diversified pipeline of projectsranging from operating to near term operating and early stagedevelopment. I am confident that the Board will realize the fullpotential of the merged company."About Western GeoPower Corp.Western GeoPower Corp. is a renewable energy company dedicated to thedevelopment of geothermal energy projects for the delivery of clean,sustainable, baseload electricity generation. The Company isdeveloping The Western GeoPower Unit 1 geothermal power plant at TheGeysers Geothermal Field in Sonoma County, California, United States;the South Brawley geothermal project in Imperial County, California,United States; and the South Meager geothermal project in BritishColumbia, Canada.On behalf of the Board of Western GeoPower Corp"Daryl S. Clark"Daryl S. Clark, ChairmanCautionary Note Regarding Forward-Looking StatementsCertain statements in this press release contain forward-lookinginformation within the meaning of applicable securities laws inCanada ("forward-looking information"). The words "anticipates","believes", "budgets", "could", "estimates", "expects", "forecasts","intends", "may", "might", "plans", "projects", "schedule", "should","will", "would" and similar expressions are often intended toidentify forward-looking information, although not allforward-looking information contains these identifying words.The forward-looking information in this press release includes, butis not limited to: the Company is well positioned to transition froma stand alone development stage company to become part of a larger,well capitalized company through the proposed business combination;and the new company will have a broad and diversified pipeline ofprojects ranging from operating to near term operating and earlystage development.The forecasts and projections that make up the forward-lookinginformation are based on assumptions which include, but are notlimited to: the Company is not subjected to any material adverseevents normally associated with exploration, development andproduction of natural resources; the Company is not subjected toadditional governmental regulation and that political attitudestowards geothermal production does not change; the Company is able toremain in compliance with its debt obligations; the Company'sresource estimates are accurate; the Company's insurance is adequateand that it does not incur any material uninsured liability; theCompany is able to comply with environmental regulations; the Companyhas access to suitable infrastructure; no title defects affect theCompany's properties; the Company receives necessary permits onacceptable terms; no material new competition; no significantfluctuation in currency exchange rates and interest rates; theCompany is able to access additional capital; no materialfluctuations in energy prices; continued access to the Company's keypersonnel; and, no conflicts of interest arise.The forward-looking information is subject to risks, uncertaintiesand other factors that could cause actual results to differmaterially from historical results or results anticipated by theforward-looking information. The factors which could cause results todiffer from current expectations include, but are not limited to:risks normally associated with exploration, development andproduction of natural resources; risks relating to governmentregulation; risks relating to indebtedness; risks relating to thereliability of resource estimates; no history of geothermalproduction; insurance and uninsured risks; environmental risks andhazards; lack of access to required infrastructure; land titledefects; risks relating to obtaining permits on acceptable terms;competition; fluctuations in currency exchange rates and interestrates; risks relating to raising additional capital; fluctuations inenergy prices; reliance on key personnel; conflicts of interest; and,other risks described in the Company's Management Discussion &Analysis and other continuous disclosure documents.All forward-looking information in this press release is qualified inits entirety by this cautionary statement and, except as may berequired by law, the Company undertakes no obligation to revise orupdate any forward-looking information as a result of newinformation, future events or otherwise after the date hereof.The TSX Venture Exchange does not accept responsibility for theadequacy or accuracy of this release.For more information or to be put on our email list, please contactNicole Robson - Marketing and Media: Office (604) 662-3338 orUS/Canada Toll Free: 1-866-662-3322, email: info(at)geopower.ca InvestorRelations: ir(at)geopower.ca --- End of Message ---Western GeoPower Corp.837 West Hastings Street Suite 411 Vancouver, BC
V6C 3N6 CanadaWKN: 254049; ISIN: CA95827Q1037; ;
Datum: 02.09.2009 - 01:25 Uhr
Sprache: Deutsch
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