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Feb 18, 2010Sierra Geothermal Appoints Two New Directors
VANCOUVER, BRITISH COLUMBIA—(Marketwire - Feb. 18, 2010)
Sierra Geothermal Power Corp. (TSX VENTURE:SRA) (“SGP”) today announced the appointment of Michael Atkinson and Daryl S. Clark to its Board of Directors. As previously disclosed on January 26, 2010, the Board decided to increase the number of its Directors from six to eight and agreed to fill these newly created vacancies by appointing one nominee from each of Exploration Capital and Skyberry Holdings. Mr. Atkinson is Exploration Capital’s representative and Mr. Clark is Skyberry Holdings’ representative.
Mr. Atkinson currently acts as a Director of Kobex Minerals Inc., and is President and Director of Canadian Phoenix Resources Corp. and Petra Petroleum Inc. He is a self-employed business consultant assisting junior companies in business development and corporate finance. Mr. Atkinson has over 15 years of demonstrated success in finance, sales, management & corporate development and a proven record of dependability and strong business acumen. Until June 2008, he was the Vice President of Quest Capital Corp. where he oversaw bridge lending activities and helped grow Quest’s market capitalization from $30M to over $450M in less than 5 years. Mr. Atkinson’s education includes a Bachelor of Arts, Administrative and Commercial Studies.
Mr. Clark currently acts as the Vice President and CFO and Director of South Asia Energy Management Systems, a Director of Ram Power Corp. and as a Director of Canadian Phoenix Resources Corporation. Mr. Clark formerly served as Vice President and CFO of Peachtree Settlement Funding. Mr. Clark has a long history of corporate finance and management within large and small companies. Prior to joining Peachtree, he was CFO for META Security Group. Mr. Clark has also held key leadership positions with DirecTV and Sensormatic Electronics. Mr. Clark has an MBA from the University of Miami and a Bachelor’s degree in chemical engineering from the University of Florida.
“We are pleased to add two quality individuals representing two of our largest shareholders to our Board of Directors. I believe their experience in corporate finance and development will strengthen our Board,” said Gary R. Thompson, President and CEO of Sierra Geothermal Power.
In addition to becoming an independent director of SGP, Michael Atkinson has also been appointed to the special committee of independent directors to consider and evaluate strategic alternatives for SGP, and make recommendations thereon to the Board.
The appointments of Mr. Atkinson and Mr. Clark to the board of Directors are subject to approval by the TSX Venture Exchange.
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. It 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-V: SRA) visit our website at http://www.sierrageopower.com.
On behalf of the Board of Directors
“Gary Thompson”
Gary Thompson, P.Geo
President, Chief Executive Officer and Director
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