Sierra Geothermal Appoints Independent Chair for the Special Meeting
January 07 2010 - 9:57AM
Marketwired
Sierra Geothermal Power Corp. (TSX VENTURE: SRA) ("SGP") is pleased
to announce that Mr. Alfred Sorensen will be the chair at the
special meeting of SGP's shareholders scheduled for January 26,
2010. Mr. Sorensen is both a member of Sierra's Board of Directors
and a member of the Special Committee of Independent Directors
recently formed to consider and evaluate strategic alternatives for
Sierra. The Board and the Special Committee unanimously selected
Mr. Sorensen to chair the special meeting.
Sierra's Articles provide that Gary Thompson, its President and
Chief Executive Officer, would normally chair the special meeting.
However, Mr. Thompson informed the Board and the Special Committee
that he believed it appropriate to appoint an independent chair. In
the view of the Board and the Special Committee, Mr. Sorensen is
not only independent, but is also well qualified.
Mr. Sorensen is the President and Chief Executive Officer of
Galveston LNG. Galveston was founded in 2004 and is developing a
worldwide LNG midstream business with projects in Canada. Prior to
founding Galveston, Mr. Sorensen was the President of Duke Energy
(Europe) Ltd. and was responsible for the development of Duke
Energy's European strategy. Mr. Sorensen began his energy trading
career with Direct Energy in 1987 and went on to be a partner in
Continental Energy Marketing Ltd. which was ultimately sold to Pan
Energy Corp., a predecessor company to Duke Energy. Mr. Sorensen is
a Chartered Accountant and holds a Bachelor of Commerce Degree from
the University of Alberta.
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. It 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, Chief Executive Officer, President 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. These statements are only predictions and involve known
and unknown risks, uncertainties and other factors, including the
risks inherent in our industry, the poor 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 the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Sierra Geothermal Power Corp. Gary Thompson President
& CEO (604) 683-0332 or 1-800-563-5631 info@sierrageopower.com
Sierra Geothermal Power Corp. Anthony Srdanovic, BA Investor
Relations (604) 642-6179 asrdanovic@sierrageopower.com
www.sierrageopower.com
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