U.S. Geothermal Closes Private Placement

U.S. Geothermal Inc. announced that it has completed the previously announced underwritten private placement of 4,260,000 units of the company at a price of US $2.34 per unit. Each Warrant will entitle the holder thereof to acquire one additional Common Share of the Company prior to April 29, 2010 for US $3.00 per Common Share.

The Underwriters have been paid a cash fee of approximately US $899,000, representing around 6% of the aggregate gross proceeds from the offering, and have been issued broker warrants to purchase up to 191,475 Common Shares of U.S. Geothermal at US $2.34 prior to April 29, 2010. The securities are subject to a four-month hold period under applicable Canadian securities laws and TSX requirements.

The proceeds of the offering are intended to be used for the completion of the acquisition of the previously announced Empire geothermal assets, for ongoing development and exploration activities at the company’s Raft River and Neal Hot Springs projects and for general working capital purposes.

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