VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Feb. 18, 2010) -
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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 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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STATEMENT REGARDING FORWARD-LOOKING INFORMATION
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include statements about Mr. Thompson's belief that the two new directors'
experience in corporate finance and development will strengthen our Board and
the Company's intent to finance the development of its projects through a
combination of corporate equity, joint venture partnerships and project debt
with the support of U.S. government grants and loan guarantees. These
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