Run of River Power Inc.
TSX VENTURE : ROR

Run of River Power Inc.

June 14, 2007 16:30 ET

Run of River Completes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Run of River Power Inc. (TSX VENTURE:ROR) ("Run of River" or the "Company") is pleased to announce that, further to its news release dated March 15, 2007, the Company increased the private placement from $10,000,000 to $11,000,000 and has completed a private placement of 27,500,000 units (the "Units"). Jacob & Company Securities Inc. ("Jacob & Co.") lead a syndicate for the financing, which included Global Resource Investments Ltd. ("Global") and Dundee Securities Corporation ("Dundee").

Each Unit, priced at $0.40, consists of one common share and one warrant; each warrant entitles the holder to purchase one additional common share at an exercise price of $0.60, expiring in twenty-four months from the closing date. Jacob & Co. was issued 1,810,500 agent's warrants and Dundee was issued 319,500 agent's warrants entitling them to purchase up to 1,810,500 Units and 319,500 Units, respectively, exercisable at a price of $0.40 per agent's warrant for a period of twenty-four months from closing. In addition, commissions were paid to Jacob & Co. for $629,868, Dundee for $102,132 and Global for $120,000. All the securities are subject to a hold period and may not be traded until October 15, 2007.

Run of River's President and CEO, Jako Krushnisky, said, "We couldn't be more pleased to close this financing. Our relationship with Jacob & Co. will definitely enhance Run of River's ability to capitalize on opportunities bringing value to shareholders." The proceeds of the offering will be used to further the development of the Company's Pitt River and Mamquam renewable energy hydroelectric projects.

About Jacob & Company Securities Inc.

Jacob & Co. is an independent investment bank with a leading underwriting and advisory business focused in the renewable power and infrastructure sectors. The firm's CEO, Sasha Jacob, brings more than a decade of experience in the power and infrastructure sectors, including founding and leading the power and infrastructure practice at a leading Canadian investment bank. Mr. Jacob has focused on investment banking in the renewable power and infrastructure sectors for over 5 years. In the previous three years, Mr. Jacob managed and structured over 25 transactions in the renewable power sector and has participated in renewable financings valued at more than $1 billion.

About Run of River Power Inc.

Run of River Power is a Vancouver based developer and operator of clean, green, renewable power. The Corporation currently sells power to BC Hydro on a long-term 20 year contract from its operating hydroelectric generation station at Brandywine Creek, near Whistler, BC.

The Corporation is currently developing renewable hydroelectric energy projects in two clusters that it owns the rights to develop, located near Vancouver, BC. The 10 development projects, totaling 193 MW of capacity, will generate over 670 GWh of renewable power annually, when completed, which could provide in excess of $60 Million per year in gross revenue to Run of River.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition, or alteration to the information catered in this Press Release including such forward-looking statements.

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

Contact Information

  • Run of River Power Inc.
    Jako Krushnisky
    President and CEO
    (604) 946-9232
    or
    Run of River Power Inc.
    David Speck
    Investor Relations
    (416) 801-8369
    Website: www.runofriverpower.com