VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2009) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO UNITED STATES OF AMERICA NEWS SERVICES.
Western GeoPower Corp. (TSX VENTURE:WGP)(FRANKFURT:WE6), a renewable energy company, today announced that the conditions to the availability of the second tranche of its secured loan facility, previously announced on November 10, 2008, have been satisfied, and that the second tranche of US$8,520,000 has now been drawn down. The initial tranche of US$2,480,000 under the US$11 million secured loan facility was drawn down on November 24, 2008.
The proceeds of the loan facility may be used for drilling, project management, development cost, plant equipment, and up to US$300,000 in monthly working capital and general corporate purposes.
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 and the South Meager Geothermal Project in British Columbia, Canada.
On behalf of the Board of Western GeoPower Corp
Kenneth MacLeod, President & CEO |
