WESTERN GEOPOWER ANNOUNCES GEYSIR GREEN ENERGY DIVESTS ITS HOLDINGS
(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: October 5, 2009 FOR IMMEDIATE RELEASETRADING SYMBOLS: TSX-V (CANADA): WGP.V FRANKFURT: WE6.FWESTERN GEOPOWER ANNOUNCES GEYSIR GREEN ENERGY DIVESTS ITS HOLDINGSVANCOUVER, Canada, October 5, 2009, TSX Venture Exchange TradingSymbol: WGP - Western GeoPower Corp. ("WGP"), a renewable energycompany, today announced that it has been advised by Geysir GreenEnergy ("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 ofCAD$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 objectiveto focus on its efforts on increasing installed capacity in operatinggeothermal power and heating plants in Iceland and China.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, President & CEOCautionary 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, Geysir's objective to focus on its efforts onincreasing installed capacity in operating geothermal power andheating plants in Iceland and China.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: 05.10.2009 - 21:42 Uhr
Sprache: Deutsch
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