Plutonic Power Corporation

Plutonic Power Corporation

March 27, 2006 10:12 ET

Mr. Grig Cook Joins The Board of Plutonic Power Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2006) - Plutonic Power Corporation (TSX VENTURE:PCC) is pleased to announce the appointment of Mr. Grig Cook to the Board of Directors of the Company effective immediately.

Mr. Cook has over thirty years of experience in the Canadian engineering and construction industry. He is currently the President and senior operating officer of Commonwealth Construction Canada Ltd., one of Canada's leading industrial contractors. Commonwealth, a subsidiary of VECO Corporation of Anchorage, Alaska, offers a comprehensive range of project development, management, and construction services to customers across Canada and other major resource centers throughout the world. The 98-year old company has extensive experience in industrial projects including power generation and its power clients include Manitoba Hydro and Trans-Canada Power, among others. Prior to joining Commonwealth in 1984, Mr. Cook spent 11 years with Barnett-McQueen in operational positions across Canada. Mr. Cook has a Bachelor of Science degree from Queen's University in Kingston, Ontario.

Mr. Cook's extensive experience in all aspects of construction will greatly enhance Plutonic's ability to move towards its successful transition from renewable energy concepts through to the design and build phase. Under the guidance of Mr. Cook, Plutonic will be able to assemble a team of people to oversee and implement the planning and build phase of its renewable energy projects.

In consideration of this appointment, 160,000 common share purchase options, with an exercise price of $0.80 and a five year term, will be issued to Mr. Cook.

Plutonic Power is an emerging energy producer in British Columbia. Its proposed 19 projects have a design capacity of over 870 MW and the potential to generate approximately 2900 GW.h per annum of green energy - enough energy to meet the annual energy needs of approximately 300,000 homes. Included in the 19 projects is the creation of the Green Power Corridor, a series of non-storage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America. The completion of the Green Power Corridor would be through one of the largest single private sector green energy investments ever made in British Columbia and would create over 2,400 person-years of employment.

Plutonic is committed to continuously work with First Nations, stakeholder groups and local communities in the development of its run of river projects.

On behalf of the Board of Directors



Donald McInnes, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Plutonic Power Corporation
    Marc Stachiw
    Office: (604) 669-4999