Sierra Geothermal Establishes Special Committee to Explore Strategic Alternatives and Oversee Proxy Solicitation Process
December 21 2009 - 7:46PM
Marketwired
Sierra Geothermal Power Corp. (TSX VENTURE: SRA) ("SGP") today
announced that it has established a special committee of
independent directors to consider and evaluate strategic
alternatives for SGP, and make recommendations thereon to the
Board.
The special committee, which consists of non-executive board
members of SGP include, Rita Theil (chair), Jerry Evans, Alfred
Sorensen, and Jack Carthy, will also oversee SGP's process of proxy
solicitation and external communications involving a requistioned
meeting of shareholders scheduled to take place on January 26, 2010
(the "Meeting").
The special committee has engaged Jacob Securities Inc. to
provide financial advisory services and has retained Ogilvy Renault
LLP as its legal advisor.
Further details on the Meeting will be contained in a Management
Information Circular that will be mailed to shareholders of SGP in
due course. The formal Meeting notice is available on SEDAR at
www.sedar.com. SGP is not yet soliciting proxies in respect of the
Meeting and nothing in this press release should be regarded as a
solicitation or request for a proxy or a recommendation as to how
shareholders of SGP should vote at the Meeting.
About Sierra Geothermal Power Corp.
Sierra Geothermal Power Corp. is a renewable energy company
focused on the exploration and development of clean, sustainable
geothermal power. The Company is based in Vancouver, British
Columbia and listed on the TSX Venture Exchange under the symbol
SRA. Its portfolio of geothermal projects located in Nevada and
California exceeds 365 square kilometres (90,000 acres) and has a
combined total estimated capacity of greater than 500 MW. SGP
intends to finance development by utilizing a combination of
corporate equity, joint venture partnerships and project debt, with
the support of US government grants and loan guarantees. To find
out more about Sierra Geothermal Power Corp. (TSX VENTURE: SRA)
visit our website at www.sierrageopower.com.
On behalf of the Board of Directors
Gary Thompson, P.Geo, President, Chief Executive Officer and
Director
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements.
Forward-looking statements are projections of events, revenues,
income, future economic performance or management's plans and
objectives for future operations. In some cases you can identify
forward-looking statements by the use of terminology such as "may",
"should", "anticipates", "believes", "expects", "intends",
"forecasts", "plans", "future", "strategy", or words of similar
meaning. Forward-looking statements in this press release include
statements such as, "established a special committee of independent
directors to consider and evaluate strategic alternatives for the
Company, and make recommendations thereon to the Board, special
committee will also oversee the Company's process of proxy
solicitation and external communications involving a requistioned
meeting of shareholders scheduled to take place on January 26,
2010, further details on the Meeting will be contained in a
Management Information Circular that will be mailed to shareholders
of SGP in due course and the Company's intent to finance the
development of its projects through a combination of corporate
equity, joint venture partnerships and project debt with the
support of U.S. government grants and loan guarantees. These
statements are only predictions and involve known and unknown
risks, uncertainties and other factors, including the risks
inherent in our industry, the challenging capital markets and other
risks identified by us in our periodic filings on SEDAR (which can
be viewed at www.sedar.com). Any of these risks could cause our or
our industry's actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements.
While these forward-looking statements and any assumptions upon
which they are based are made in good faith and reflect our current
judgment regarding the direction of its business, actual results
will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested in this press release. Except as required by applicable
law, including the securities laws of Canada, we do not intend to
update any of the forward-looking statements to conform these
statements to actual results.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Sierra Geothermal Power Corp. Gary Thompson President
& CEO (604) 683-0332 / 1-800-563-5631 info@sierrageopower.com
Sierra Geothermal Power Corp. Anthony Srdanovic Investor Relations
(604) 642-6179 asrdanovic@sierrageopower.com
www.sierrageopower.com
Stria Lithium (TSXV:SRA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Stria Lithium (TSXV:SRA)
Historical Stock Chart
From Jul 2023 to Jul 2024