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Stock Market & Financial Investment News

News Breaks
April 7, 2014
08:11 EDTHTMU.S. Geothermal agrees to acquire Ram Power's Geysers project for $6.4M cash
U.S. Geothermal announced that it has signed a Stock Purchase Agreement to acquire Ram Power Corp.'s Geysers project for $6.4M in cash. The Ram subsidiaries included in the transaction are Western Geopower, Skyline Geothermal Holdings, and Etoile Holdings, which, in turn, includes all membership interests in Mayacamas Energy and Skyline Geothermal. The transaction, which is subject to customary closing conditions, is expected to close on or before April 30. The acquisition will be funded with cash on hand.
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October 16, 2014
08:13 EDTHTMU.S. Geothermal acquires Earth Power Resources for 692,769 shares of stock
U.S. Geothermal announced that it has signed an Agreement and Plan of Merger to acquire Earth Power Resources, or EPR. Under the terms of the Agreement, EPR will be merged with and into U.S. Geothermal. EPR shareholders will receive a total of 692,769 shares of U.S. Geothermal stock in exchange for all outstanding shares of EPR stock. EPR will have no outstanding debts or unpaid obligations at the time the transaction closes. The transaction is expected to close by the end November following shareholder approval by EPR Shareholders. The assets acquired from EPR include geothermal leases covering 26,017 acres in Nevada representing three projects, as well as EPR's complete geothermal resource database of new project opportunities located throughout the western United States. EPR's management evaluated and compiled the database over its nearly 40 years of geothermal exploration experience. Resource reports prepared for EPR over the past several years by GeothermEx, a consulting geothermal engineering firm, provide estimates that the energy potential contained within the three projects is in the range of 158 to 359 megawatts.

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