Ram Power, Corp. Announces Closing of $50 Million Credit Facility

RENO, NV--(Marketwire - March 2, 2011) - Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, announced today that it successfully closed a $50 million, two-year term loan credit facility (the "Credit Facility") with Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd. (collectively, the "Lenders").

The Credit Facility will refinance the interim $12 million credit facility closed with the Lenders on February 4, 2011 and will provide $38 million of additional funding for the Company. The Credit Facility is secured by certain assets of the Company and its subsidiaries. In connection with the Credit Facility, the Company has issued 18,031,251 common share purchase warrants (the "Warrants") to the Lenders with an exercise price of C$1.36 per share. The Warrants will expire on February 28, 2013 (subject to the earlier termination in certain circumstances) and will vest and become exercisable only upon and to the extent that loans are made under the Credit Facility and in the proportion that such loans bear to the total amount of the Credit Facility. The exercise of the Warrants is subject to the satisfaction by the Company of the listing conditions of the Toronto Stock Exchange.

Walter Higgins, Interim CEO of Ram Power, stated, "This new credit facility is the latest step in management's commitment to put Ram Power on firm long-term financial footing while we continue to develop our portfolio of projects in both Central America and the United States."

About Ram Power

Ram Power is a renewable energy company based in Reno, Nevada, engaged in the business of acquiring, exploring, developing, and operating geothermal properties. Ram Power has an interest in geothermal projects, primarily in the United States, Canada, and Latin America.

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power undertakes no obligation to update forward-looking information, other than as required by law, or comment on analyses, expectations or statements made by third parties in respect of Ram Power, or its financial or operating results or its securities.

Contact Information:

Steven Scott
Director of Investor Relations
Ram Power, Corp.
Phone: 775-398-3711
Email:
www.ram-power.com