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| 5/29/2009 12:32:31 PM ET | News Release Index
| | SGP Warrants Expire | | | Vancouver, British Columbia - Sierra Geothermal Power Corp. [TSX-V: SRA] (“SGP”) today announced that the 21.6 million warrants issued in a brokered private placement of units that closed on May 29, 2007 expired yesterday. Although SGP has previously disclosed that these warrants were to expire on May 29, 2009, it recently notified the warrant holders that this was an error and advised them that these warrants would expire at close of business on May 28, 2009. As previously announced on April 21, 2009, SGP proposed to amend these warrants to reduce the exercise price and extend the term, but only if all of the warrant holders consented to the proposal. As not all warrant holders consented to the proposal, the warrants expired without amendment.
On behalf of the Board of Directors
Gary Thompson, P.Geo
President, Chief Executive Officer and Director
Not for distribution to United States newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of United States securities law.
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.
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 about 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 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.
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