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Sierra Geothermal Power Corp.: SGP Receives Letter Requisitioning a Shareholder Meeting

^{Published on 2009-10-02 16:36:30 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2009) - Sierra Geothermal Power Corp. (TSX VENTURE:SRA) ("SGP") announced that it has received a letter requisitioning a meeting of shareholders. The letter, dated October 1, 2009, is from Exploration Partners 2005 Limited Partnership of Carlsbad, CA, described as a registered shareholder of more than 5 percent of SGP's shares.

As set out in the requisition letter, the purpose of the meeting would be for shareholders to vote on an increase in the number of directors of SGP to 13 from six, and for shareholders to vote on seven new directors put forward by Exploration Partners.

"We intend to advise shareholders of the date of the special meeting in due course," said Gary Thompson, President and Chief Executive Officer of SGP. "We also intend to provide shareholders with more information by way of a Management Information Circular in advance of the meeting. When the circular becomes available, shareholders should read it carefully before reaching a decision with regard to their votes. In the meantime, there is no need for shareholders to take any action."

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. The Company 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, P.Geo, President, Chief Executive Officer 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. Forward-looking statements in this press release include statements about Sierra Geothermal'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. 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 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.