Ram Power, Corp.

TSX : RPG


Ram Power, Corp.

December 24, 2013 15:08 ET

Ram Power Announces Completion of Rights Offering

RENO, NEVADA--(Marketwired - Dec. 24, 2013) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY UNITED STATES NEWSWIRE SERVICES OR OTHERWISE FOR DISTRIBUTION IN THE UNITED STATES.

Ram Power, Corp. (TSX:RPG) ("Ram Power" or the "Company") is pleased to announce today that it has completed its previously announced offering of rights (the "Rights Offering") to holders of its common shares ("Common Shares") of record at the close of business on November 26, 2013. A total of approximately 67 million Common Shares were issued pursuant to the Rights Offering.

The Rights Offering raised gross proceeds of approximately $5.4 million. The net proceeds from the Rights Offering will be used by Ram Power to fulfill upcoming interest payment obligations to the holders of Ram Power's outstanding debentures in the aggregate amount of approximately $2,180,000 due December 31, 2013 and for general corporate and working capital purposes.

No U.S. Registration

The securities offered will not be or have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. person (as defined in Regulation S of the Securities Act) or person in the United States, unless an exemption from such registration requirements is available. Certain shareholders in the United States will be permitted to participate in the rights offering upon satisfying the Company that such participation is lawful and in compliance with all applicable securities and other laws of the United States. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States.

About Ram Power, Corp.

Ram Power is a renewable energy company engaged in the business of acquiring, exploring, developing, and operating geothermal properties, and has interests in geothermal projects in the United States, Canada, and Latin America.

Forward Looking Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power and the proposed use of proceeds from the Rights Offering. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power undertakes no obligation to update forward-looking information, other than as required by law, or comment on analyses, expectations or statements made by third parties in respect of Ram Power, or its financial or operating results or its securities.

Contact Information