SOURCE: Ram Power, Corp.

Ram Power, Corp.

December 06, 2011 16:30 ET

Ram Power, Corp. Announces Execution of Amendments to Credit Facility

RENO, NV--(Marketwire - Dec 6, 2011) - Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), a renewable energy company focused on the development, production and sale of electricity from geothermal energy, announced today the execution of the amendments to its $50 million, term loan credit facility (the "Credit Facility") with Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd. (collectively, the "Lenders").

The amendments extend the maturity date of the Credit Facility from February 28, 2012 to September 30, 2013, waive the non-compliance related to the delivery of post-closing collateral items by deadlines specified in the original agreement, and waive the non-compliance of Ram Power of its repayment obligation to the extent that equity distributions are made available to the Company from the proceeds of the San Jacinto phase II credit facility. In connection with the amendments, the Lenders agreed to cancel 18,031,251 common share purchase warrants associated with the Credit Facility.

"We are pleased with the execution of the credit facility amendments," stated Shuman Moore, CEO of Ram Power. "The Lenders have continued to show commitment to the Company during challenging times, and we are thankful for their continued support and look forward to the commercial operation date for the Phase I expansion in San Jacinto at the end of the month."

About Ram Power

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

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. 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.

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