WESTERN GEOPOWER WELCOMES NEW DIRECTORS DARYL S...
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NEWS RELEASE
DATE: June 25, 2009 FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V (CANADA): WGP.V FRANKFURT: WE6.F
WESTERN GEOPOWER WELCOMES NEW DIRECTORS DARYL S. CLARK AND HARRY
KNUTSON
VANCOUVER, Canada, June 25, 2009, TSX Venture Exchange Trading
Symbol: WGP - Western GeoPower Corp., a renewable energy company, is
pleased to announce the election of Daryl S. Clark of Plantation,
Florida, and Mr. Harry Knutson of Vancouver, BC at the company's
Annual General and Special Meeting held June 24, 2009. Kenneth
MacLeod, Gudmundur Sigurjonsson and Domenic Falcone were re-elected
to the Board. Mr. Clark has also been appointed Chairman of the
Board.
Mr. Knutson is Chairman, Chief Executive Officer and the founder of
Nova Bancorp Group and has been responsible for the growth and
performance of the diversified wealth management firm since its
inception in 1982. He was Chairman of Montreal-based StrategicNova
Inc. from 1998 to 2002 and, prior to establishing Nova Bancorp Group,
he was President of a mid-sized trust company. Mr. Knutson also
served as President, Chief Executive Officer and Director of a real
estate investment trust and President of a conglomerate active in the
food, sports and real estate industries. Mr. Knutson was instrumental
in the reorganization of Bonavista Petroleum Ltd. in 1997, and
continues as an active director on the board of Bonavista Energy
Trust. He is also a board member of a number of junior oil and gas
and related industry companies, and has received the Canadian
Chartered Director designation from The Directors College of McMaster
University.
Mr. Clark is currently the Vice President and Chief Financial Officer
and member of the board of South Asia Energy Management Systems
("South Asia"), a California corporation. South Asia undertakes the
development, construction, acquisition, ownership and long term
operation of hydro-electric and other renewable energy projects in
various international markets. Prior to joining South Asia, from 2002
to 2007 Mr. Clark was Vice President and Chief Financial Officer for
Peachtree Settlement Funding, a specialty factoring firm. Mr. Clark
was instrumental in leading Peachtree during a period of time in
which its revenues grew from $20 million to $180 million annually.
In addition, Mr. Clark currently serves on the Board of Directors of
Canadian Phoenix Resources Corporation which is a publicly-traded
junior oil and gas exploration, development and production company
with operations in Western Canada. Mr. Clark has a master's degree in
business administration from the University of Miami and a bachelor's
degree in chemical engineering from the University of Florida.
"The new directors bring significant project finance experience to
the Board of Western GeoPower," said Kenneth MacLeod, President & CEO
of Western GeoPower Corp. "This will be of considerable value as the
company enters the project financing phase for our Geysers project in
California."
John Copeland and Thomas Drolet did not stand for reelection to the
Board of Directors at the Annual General and Special Meeting. "The
Board appreciates the contributions made by both Mr. Copeland and Mr.
Drolet in advancing the interests of the company over recent years,"
said Kenneth MacLeod. "We look forward to working with Mr. Drolet in
his ongoing role as CEO of our California subsidiary, Western
GeoPower, Inc."
About Western GeoPower Corp.
Western GeoPower Corp. is a renewable energy company dedicated to the
development of geothermal energy projects for the delivery of clean,
sustainable, baseload electricity generation. The Company is
developing The Western GeoPower Unit 1 geothermal power plant at The
Geysers 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 British
Columbia, Canada.
On behalf of the Board of Western GeoPower Corp
"Kenneth MacLeod"
Kenneth MacLeod, President & CEO
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release contain forward-looking
information within the meaning of applicable securities laws in
Canada ("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 to
identify forward-looking information, although not all
forward-looking information contains these identifying words.
The forward-looking information in this press release includes, but
is not limited to: The project finance experience of the new board
members will be of considerable value as the company enters the
project financing phase for our Geysers project in California.
The forecasts and projections that make up the forward-looking
information are based on assumptions which include, but are not
limited to: the Company is not subjected to any material adverse
events normally associated with exploration, development and
production of natural resources; the Company is not subjected to
additional governmental regulation and that political attitudes
towards geothermal production does not change; the Company is able to
remain in compliance with its debt obligations; the Company's
resource estimates are accurate; the Company's insurance is adequate
and that it does not incur any material uninsured liability; the
Company is able to comply with environmental regulations; the Company
has access to suitable infrastructure; no title defects affect the
Company's properties; the Company receives necessary permits on
acceptable terms; no material new competition; no significant
fluctuation in currency exchange rates and interest rates; the
Company is able to access additional capital; no material
fluctuations in energy prices; continued access to the Company's key
personnel; and, no conflicts of interest arise.
The forward-looking information is subject to risks, uncertainties
and other factors that could cause actual results to differ
materially from historical results or results anticipated by the
forward-looking information. The factors which could cause results to
differ from current expectations include, but are not limited to:
risks normally associated with exploration, development and
production of natural resources; risks relating to government
regulation; risks relating to indebtedness; risks relating to the
reliability of resource estimates; no history of geothermal
production; insurance and uninsured risks; environmental risks and
hazards; lack of access to required infrastructure; land title
defects; risks relating to obtaining permits on acceptable terms;
competition; fluctuations in currency exchange rates and interest
rates; risks relating to raising additional capital; fluctuations in
energy 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 in
its entirety by this cautionary statement and, except as may be
required by law, the Company undertakes no obligation to revise or
update any forward-looking information as a result of new
information, future events or otherwise after the date hereof.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For more information or to be put on our email list, please contact
Nicole Robson - Marketing and Media: Office (604) 662-3338 or
US/Canada Toll Free: 1-866-662-3322, email: info@geopower.ca Investor
Relations: ir@geopower.ca
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Western GeoPower Corp.
837 West Hastings Street Suite 411 Vancouver,
BC<br>V6C 3N6 Canada
WKN: 254049; ISIN: CA95827Q1037;
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