Western GeoPower Raises $8.6M
Attribution: Geysir Green Energy
In a previously announced private placement, Geysir Green Energy has consummated the transaction to acquire 13.7% of Western GeoPower raising a $8.6M to continue development of the old Unit 15 project at the Geysers in Northern California. This comes on the heels of successful flow tests of the first production well on the site. Additionally, Geysir has warrants on 9.3M shares exercisable at $0.35/share – in total, Geysir controls 18.8% of WGP’s outstanding shares which could reach 25% if the warrants are exercised.
Links:
Western GeoPower
Geysir Green Energy
