News
Mar 01, 2010Sierra Geothermal Grants Stock Options
VANCOUVER, BRITISH COLUMBIA—(Marketwire - March 1, 2010) - Sierra Geothermal Power Corp. (TSX VENTURE:SRA) (“SGP”) announced that it today issued 1,800,000 10-year incentive stock options to its employees, officers and directors as follows:
- An aggregate of 100,000 incentive stock options to its recently appointed directors. These options vest immediately;
- An aggregate of 1,700,000 incentive stock options to its officers and employees.
All of the aforementioned incentive stock options were granted at an exercise price of $0.25 and are exercisable at any time up until the expiration of their 10-year term on March 1, 2020.
As a result of the granting of these incentive stock options, SGP now has 7,334,336 incentive stock options outstanding.
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.
On behalf of the Board of Directors
Gary Thompson, P.Geo, President, Chief Executive Officer and Director
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