CAPRICORN BUSINESS ACQUISITIONS PROVIDES UPDATE ON ITS QUALIFYING TRANSACTION WITH CALDERA GEOTHERMAL

TORONTO, April 6 /CNW Telbec/ - Capricorn Business Acquisitions Inc. (TSX VENTURE: CAK.P) ("Capricorn"), a capital pool company which entered into a previously announced letter agreement (the "Agreement") with Caldera Geothermal Inc. ("Caldera", and together with Capricorn, the "Parties") to acquire all of the issued and outstanding securities of Caldera (the "Qualifying Transaction"), is pleased to announce that, further to its press release dated December 9, 2010 and receipt of approval from the TSX Venture Exchange, it has disbursed a secured interest bearing loan in the principal amount of $225,000 to Caldera.

The loan bears simple interest at the rate equal to 8% per annum which principal and accrued and unpaid interest are fully repayable on the earlier of (i) June 30, 2011, (ii) the completion of the Qualifying Transaction and (iii) the occurrence and continuance of an event of default. The loan is secured by a first charge against the shares of Geothermal Technical Partners Inc., Caldera's wholly owned operating subsidiary (which holds all of Caldera's geothermal assets), and on certain other assets of Caldera.

The Parties also agreed to further amend the Agreement to, among other things, provide for a further extension of the exclusivity period from March 31, 2011 to June 30, 2011 and to authorize Caldera to undertake an unsecured convertible debenture financing in the aggregate principal amount of up to $1,000,000.

Caldera intends to utilize the proceeds from the Capricorn loan and the debenture financing for, among other things, land payments associated with current properties of Caldera and new acquisitions made in the recent Nevada geothermal lease auction, costs associated with the Qualifying Transaction and general corporate and administrative purposes.

About Caldera Geothermal Inc.

Caldera is a geothermal exploration company focusing on the identification of blind or underappreciated geothermal systems in order to expand the geothermal resource base of the western U.S. The Great Basin is attractive for geothermal development because it possesses proven geothermal resources, it is close to large markets for renewable power, and it benefits from a favourable regulatory environment. Caldera uses an innovative exploration approach to discover new geothermal systems while mitigating technical and financial risk in the early and middle phases of resource identification. Caldera currently controls 28,448  acres of geothermal leases in Nevada including its McGee Mountain project in northwestern Nevada, for which Caldera was awarded a $1.6 million Department of Energy grant to further develop the property.

About Capricorn Business Acquisitions Inc.

Capricorn is a TSX Venture Exchange listed company and classified as a Capital Pool Company as defined in the TSX Venture Exchange Policy 2.4.

Completion of the Qualifying Transaction is subject to a number of conditions including, but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed, or at all.

Investors are cautioned that, except as disclosed in the or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.


SOURCE Capricorn Business Acquision Inc.

For further information:

Capricorn Business Acquisitions Inc.
Yvan Routhier
President and Director
(514) 352-5546
yvanrouthier@deltapac.ca
Caldera Geothermal Inc.
Zohrab Mawani    
Chief Executive Officer   
(416) 557-6922    
zmawani@calderageothermal.com  
Yannis Banks
Director
(416) 777-6169
ybanks@foundationmarkets.com

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Capricorn Business Acquision Inc.

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