NGP to raise cash for Blue Mountain project, etc.

In Canada, Nevada Geothermal Power, Inc. will proceed with a non-brokered private placement for up to 20,000,000 units at a price of $0.48 per unit in hopes of raising $9.6 million. Each unit will include a common share and a transferable share purchase warrant. The warrant will entitle the holder to purchase one additional common share of the company at $0.67. KBH Capital Corp. will help with the offering, with NGP paying a cash finders fee equal to 5% of the gross proceeds raised. The proceeds will be used to fund further development at the Blue Mountain Faulkner 1 geothermal power plant, development of other existing projects and for working capital.