BOISE, IDAHO — (Marketwire) — 08/24/12 — U.S. Geothermal Inc. (NYSE Amex: HTM)(NYSE MKT: HTM)(TSX: GTH), a renewable energy development company focused on the production and sale of electricity from geothermal energy, announced today that, as part of its annual employee compensation program, it has granted options pursuant to its Stock Incentive Plan to directors, employees and consultants to acquire 2,917,000 shares in capital of the company. The options are exercisable at a price of US$0.31 per share for a term of 5 years expiring August 24, 2017. 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 US 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 achieved commercial operation of a new 8.6 net MW binary cycle power plant that replaces the existing plant.
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The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. These statements are based on U.S. Geothermal Inc.–s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described, including but not limited to, the results from the exploration drilling at San Emidio and Neal Hot Springs. Readers are cautioned to review the risk factors identified by the company in its filings with Canadian and US securities agencies. Forward-looking statements are based on management–s expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management–s expectations, beliefs, or opinions, or other factors, should change.
The NYSE MKT and the TSX do not accept responsibility for the adequacy of this release.
Contacts:
U.S. Geothermal Inc.
Saf Dhillon
Investor Relations
866-687-7059
208-424-1030 (FAX)