US Geothermal Inc. Gains $15 M Financing

Toronto, Ontario [RenewableEnergyAccess.com] US Geothermal Inc. entered into an agreement with a syndicate of Canadian investment dealers to raise gross proceeds of $15 million. The net proceeds of the offering will be used by the company for general working capital purposes. The Underwriters will have the option, exercisable prior to the closing of the offering, to purchase up to an additional 2,272,718 shares at the issue price under the offering. If the option is exercised in full, the gross proceeds of the offering will be approximately $20 million. The offering is scheduled to close on or about June 5, 2007 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
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