Idaho-based geothermal power developer U.S. Geothermal announces stock option of 2.6 million shares at US$0.83 each
June 3, 2011
– U.S. Geothermal Inc. (TSX:GTH)(NYSE Amex:HTM), a renewable energy development company focused on the production and sale of electricity from geothermal energy, announced today that it has granted options pursuant to its Stock Incentive Plan to directors, employees and consultants to acquire 2,590,000 shares in capital of the company. The options are exercisable at a price of US$0.83 per share for a term of 5 years expiring June 3, 2016. The options will vest subject to the company's Stock Incentive Plan.
The Stock Incentive Plan was approved by the shareholders of the company at an Annual General Meeting held December 17, 2009.
About U.S. Geothermal:
U.S. Geothermal Inc. is a leading renewable energy development company that is operating geothermal power projects at Raft River, Idaho and San Emidio, Nevada. The Neal Hot Springs project, which is currently under construction, will be the company's third operating power project. The company holds geothermal energy rights to 69,500 acres comprising six advanced stage geothermal development projects. The San Emidio project is currently undergoing construction of a new 8.6 net MW binary cycle power plant.