WGP Western Geopower Corp Com Npv

GTO Resources Inc. (NEX BOARD:GTR.H) and Western GeoPower Corp. (TSX
VENTURE:WGP) and Polaris Geothermal Inc. (TSX:GEO) - 


In the release issued at 9:06 am ET on August 20, 2009, the incorrect ticker
symbol was inserted. It should have read: GTO Resources Inc. (NEX BOARD:GTR.H).
The correct and completed version follows:


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS


GTO Resources Inc. ("GTO") (NEX BOARD:GTR.H) is pleased to announce that it has
successfully completed its previously announced equity financing (the
"Financing") of subscription receipts ("Subscription Receipts") with a syndicate
of agents led by Cormark Securities Inc. and including Raymond James Ltd.,
Ambrian Partners Limited, Canaccord Capital Corporation, Dundee Securities
Corporation and Wellington West Capital Markets Inc. (collectively, the
"Agents"). Pursuant to the Financing, an aggregate of 59,800,000 Subscription
Receipts were issued (including 7,800,000 Subscription Receipts issued pursuant
to the exercise in full by the Agents of an over-allotment option) at a price of
$3.00 per Subscription Receipt for aggregate gross proceeds of $179,400,000.


The proceeds of the Financing, less the Agents' expenses, will be held in escrow
pending the completion of the business combination involving GTO, Polaris
Geothermal Inc., Western GeoPower Corp. and Ram Power, Inc. (the "Business
Combination"), as disclosed in the press releases of GTO dated June 30, 2009 and
July 15, 2009. Each Subscription Receipt purchased under the Financing will
entitle the holder to receive, for no additional consideration, one common share
in the combined entity following completion of the Business Combination.


The proceeds of the Financing will be used to develop key projects of the
combined businesses upon completion of the Business Combination, debt repayment
of the combined entity and for working capital and general corporate purposes.


The gross proceeds of the Financing will be returned to holders of the
Subscription Receipts if the Business Combination has not been completed by
November 3, 2009.


In connection with the Offering, the Agents received a 6% cash commission, which
amount shall remain in escrow pending the completion of the Business
Combination. Additionally, the Corporation issued an aggregate of 3,588,000
broker warrants (the "Broker Warrants") to the Agents, whereby each Broker
Warrant entitles the holder thereof to purchase one common share of the
Corporation at an exercise price of $3.00 per common share. The Broker Warrants
are exercisable for a period of two years commencing upon the completion of
certain conditions, including the completion of the Business Combination. In the
event that the Business Combination has not been completed by November 3, 2009
the Broker Warrants shall terminate pursuant to their terms.


The Subscription Receipts and the Broker Warrants issued pursuant to the
Financing are subject to a hold period under applicable securities laws expiring
on December 21, 2009.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act"), or any state securities laws and may not
be offered or sold within the United States or to United States Persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


All references to "$" or "dollars" are to Canadian dollars.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of
applicable securities laws relating to the proposal to complete the Business
Combination, including statements regarding the terms and conditions of the
Business Combination. Readers are cautioned to not place undue reliance on
forward-looking statements. Actual results and developments may differ
materially from those contemplated by these statements depending on, among other
things, the risks that the parties will not proceed with the Business
Combination, that the ultimate terms of the Business Combination will differ
from those that currently are contemplated, and that the Business Combination
will not be successfully completed for any reason (including the failure to
obtain the required approvals or clearances from regulatory authorities). The
statements in this press release are made as of the date of this release. GTO
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 GTO or its financial or operating results or (as
applicable), their securities.

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