Nevada Geothermal Power, Inc. (OTC:NGLPF) has granted certain employees incentive stock options for the purchase of 150,000 common shares at an exercise price of $1.00 per share. The shares are being offered for a term of 5 years. The company’s common shares can be acquired on the exercise of the options that will vest over a period of 18 months. 25% of the options will vest on the date of the grant with a balance vesting in equal portions after six, twelve, and eighteen months.
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Nevada Geothermal Power Inc. (NGP) is engaged in the renewable clean geothermal energy business. The Company is engages in the acquisition, exploration and development of geothermal resources in the Western United States, principally in Nevada and Oregon. The Company holds 100% leasehold interests in four properties: Blue Mountain, Pumpernickel and Black Warrior, all located in Nevada, and Crump Geyser, located in Oregon. The Company’s activities have focused on the development of renewable geothermal energy projects with an emphasis on the exploration and development of geothermal power at Blue Mountain, Nevada. On October 9, 2009, the construction of the geothermal power plant completed.
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