WGP Western Geopower Corp Com Npv

Western GeoPower Corp. (TSX VENTURE:WGP)(FRANKFURT:WE6), a renewable energy
development company, announces the appointment of Asgeir Margeirsson, CEO of
Iceland-based Geysir Green Energy ("Geysir"), to the Board of Directors. Geysir
recently acquired approximately 19% of the common shares of Western GeoPower.


Asgeir Margeirsson has been at the forefront of the Icelandic energy business
for several years, both domestically and abroad. From 2000 to early 2007, Mr
Margeirsson was Deputy CEO and Director of Production and Sales at Reykjavik
Energy Company, where he was responsible for power plant and well field
operation, new construction, development of new power projects, sales and
foreign operations. Prior to 2000, Mr Margeirsson worked as Technical Director
of Iceland Drilling, where he was responsible for corporate development and
operation of drilling projects in Iceland. He also worked as Managing Director
of Iceland Drilling UK, where he was responsible for drilling projects in the
United Kingdom, Ireland and Azores (Portugal). He obtained a B.Sc in Civil
Engineering from the University of Iceland, Reykjavik, and a PhD in Construction
Management from the University of Lund, Sweden. Mr. Margeirsson serves as an
executive Board member for several organizations involved in geothermal energy,
including; President of the Icelandic Geothermal Association; Chairman of
Enex-China; Chairman of Exorka International; Vice-Chairman of Hitaveita
Sudurnesja hf; Vice-Chairman of Shaanxi Green (China); and as a Board member of
Iceland Drilling; Iceland America Energy (USA); and Enex.


Geysir Green Energy was formed in early 2007 with a mission to become a leading
investor in geothermal power projects. Geysir is pursuing expansion through
mergers and acquisitions and the development of new projects. Well capitalized
to realize on its goals, Geysir has a suite of directors, management and
technical staff with considerable experience in geothermal funding, development
and operations. Geysir is investing in the development and construction of
geothermal plants, acquiring interests in geothermal plants currently owned by
power utilities and participating in the privatization of energy companies in
various parts of the world.


"We are very pleased to be able to draw upon the considerable geothermal
expertise of Mr. Margeirsson and his colleagues," said Kenneth MacLeod,
President and CEO of Western GeoPower. "His knowledge of power plant design,
construction and operations will be particularly relevant throughout the
development phase of our Unit 1 power plant at The Geysers Geothermal Field in
California."


"Our team at Geysir Green Energy looks forward to working with Western GeoPower
to optimize the potential of Western GeoPower's current projects in the United
States and Canada," said Mr. Margeirsson. "We are also well-positioned to
support Western GeoPower in acquiring and developing additional projects."


The Company has granted Mr. Margeirsson 300,000 incentive stock options to
purchase capital stock of the Company at a price of $0.30 per share for a period
of five years under the stock option plan.


Corporate Overview

Western GeoPower Corp. is a renewable energy company dedicated to the
development of geothermal energy projects for the delivery of clean, baseload
electricity generation. The Company is developing the 25.5 Megawatt (net)
geothermal power plant at The Geysers Geothermal Field in Sonoma County,
California, United States. The Company is also developing the South Meager
Geothermal Project in British Columbia, Canada.


On behhalf of Western GeoPower Corp.

Kenneth MacLeod, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Statements in this release that are forward-looking are subject to various risks
and uncertainties concerning the specific factors identified above that reflect
the Company's expectations and projections about its future results. The Company
has tried whenever possible to identify these forward-looking statements which
include but are not limited to, words such as "anticipates," believes,"
"estimates," "expects," "plans," "intends," "potential," and similar
expressions. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Investors are
cautioned that any such statements are not guarantees of future performance and
that actual results or developments may differ materially from those projected
in the forward-looking statements. The Company disclaims any obligation or
intention to update or to revise any forward-looking statement, whether as a
result of new information, future events or otherwise. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. This news release is not for
dissemination in the United States of America or to United States of America
news services.

Western Geopower Corp Com Npv (TSXV:WGP)
Historical Stock Chart
From Jul 2024 to Aug 2024

Western Geopower Corp Com Npv (TSXV:WGP)
Historical Stock Chart
From Aug 2023 to Aug 2024