U.S. Geothermal Announces $5M Financing With Strategic Investors

U.S. Geothermal Inc. HTM announces today that it entered into agreements with a number of strategic investors, pursuant to which they have agreed to acquire, in total, approximately 5,000,000 Units of the Company at a price of $1.00. Each Unit consists of one share of common stock of the Company and one half of one common stock purchase warrant. Each Warrant will entitle the holder thereof to acquire one additional share of common stock of the Company for a period of 12 months following the closing of the offering for US$1.075 per share of common stock. The gross proceeds of the Unit offering are expected to be approximately US$5,000,000. A placement agent fee of 2.5% of the total number of Units is payable in conjunction with the majority of the offering outside of the United States.