WGP Western Geopower Corp Com Npv

Western GeoPower Corp. (TSX VENTURE:WGP) (FRANKFURT:WE6), 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. 


The proceeds of the loan may be used for drilling, project management, project
finance, development cost, plant equipment, and up to US$500,000 in monthly
working capital and general corporate purposes.


The company will file a material change report as soon as practicable after
issuing this press release. The material change report will be filed less than
21 days prior to the closing of the amended loan agreement. The timing of the
material change report is, in the company's view, both necessary and reasonable
because the terms of the amended loan agreement were settled and approved by the
company's board of directors and the company requires immediate funding to
maintain the schedule for its project at The Geysers Geothermal Field and to
satisfy current liabilities.


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 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, 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 Company will file a material change report as soon as
practicable after issuing this press release.


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. 


For more information or to be put on our email list, please contact the number
below:

Western Geopower Corp Com Npv (TSXV:WGP)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Western Geopower Corp Com Npv (TSXV:WGP)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024