Tuesday, December 16, 2014

USA, Idaho:

U.S. Geothermal Completes Acquisition of Earth Power Resources (SYS-CON Media - News Release)

GRC Member Company U.S. Geothermal Inc. announced today that it successfully completed the previously announced acquisition of Earth Power Resources (EPR) on December 12, 2014. Under the terms of the Agreement, EPR was merged with and into U.S. Geothermal.

The assets acquired from EPR include geothermal leases covering 26,017 acres in Nevada, representing three projects that have an energy potential estimated in the range of 158 to 359 megawatts. Also included is EPR's complete geothermal resource database of new project opportunities located throughout the western United States, which EPR had compiled over its nearly 40 years of geothermal exploration experience.

"We are very pleased to have added the Earth Power project portfolio to our development pipeline and look forward to advancing the development of these excellent opportunities," said Dennis Gilles, Chief Executive Officer of U.S. Geothermal Inc. and GRC Board Member "We are also pleased to continue our growth through a combination of the development of internal projects and growth through strategic acquisition - this acquisition continues the execution of that plan."

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