TORONTO, June 4 /CNW/ - Skyberry Holdings Ltd. ("Skyberry"), announced
today that it has acquired 16,000,000 Units of Sierra Geothermal Power Corp.
(TSXV: SRA) ("Sierra") at a price of Cdn$0.50 per Unit in connection with
Sierra's brokered private placement, the closing of which was announced by
Sierra today. Each Unit consists of one common share and one common share
purchase warrant in the capital of Sierra. Each common share purchase warrant
entitles the holder to acquire one common share, exercisable at a price of
Cdn$0.70 per warrant, for a period of 24 months from the date of closing. As a
result of the acquisition, Skyberry now owns 16,000,000 common shares,
representing approximately 21.29% of the total issued and outstanding common
shares of Sierra and 16,000,000 common share purchase warrants.
Skyberry acquired these Units for investment purposes and may, from time
to time, acquire additional securities of Sierra or dispose of such securities
as it may deem appropriate.
For further information:
For further information: Mr. Sasha Jacob, c/o Jacob & Company Securities
Inc. at (416) 866-8300; Skyberry Holdings Ltd., Charlotte House, Shirley
Street, P.O. Box N7529, Nassau, Bahamas