Vancouver, BC---August 18, 2009--- GE Energy Financial Services
and Plutonic Power Corporation (TSX: PCC) announced that they have
entered into a subsequent Amending Agreement with EarthFirst Canada Inc.
(TSX: EF, EF.WT) to allow for, subject to court approval, an extension
to September 4, 2009 (with notice of any waiver or non-satisfaction of
conditions to be provided by September 9, 2009) of the due-diligence
period for the partners' review of the proposed purchase of the Dokie
Ridge Wind Project. The assets, located 1,100 kilometres northeast of
Vancouver, near Chetwynd, are currently owned by EarthFirst Canada Inc.
While significant positive progress continues to be made in addressing
key matters, the partners require additional time to complete the
remaining due-diligence and required contract negotiations.
About GE Energy Financial Services
GE Energy Financial Services' experts invest globally with a long-term
view, backed by the best of GE's technical know-how, financial strength
and rigorous risk management, across the capital spectrum, in one of the
world's most capital-intensive industries, energy. GE Energy Financial
Services helps its customers and GE grow through new investments, strong
partnerships and optimization of its more than US$22 billion in assets.
In renewable energy, GE Energy Financial Services is growing its
portfolio of more than US$4 billion in assets in wind, solar, biomass,
hydro and geothermal power. GE Energy Financial Services is based in
Stamford, Connecticut. For more information, visit
GE (NYSE: GE) is a diversified global infrastructure, finance and media
company that is built to meet essential world needs. From energy, water,
transportation and health to access to money and information, GE serves
customers in more than 100 countries and employs more than 300,000
people worldwide. For more information, visit the company's Web site at
http://www.ge.com. GE is Imagination at Work.
About Plutonic Power Corporation
Plutonic Power's vision is to provide leadership and create a legacy
through the development of renewable, reliable, clean energy projects.
It's proposed Green Power Corridor TM, comprised of 42 generation
facilities (including the 2 facilities being constructed by the Toba
Montrose General Partnership), could have the capacity to meet the
annual energy needs of about 660,000 homes and offset more than 4.4
million tons of CO2 emissions every year - the equivalent of taking more
than 850,000 cars off the road. Build out of the Green Power Corridor
TM, including the current construction of the $660 million, 196 megawatt
East Toba River and Montrose Creek run-of-river hydroelectric project,
could create approximately 6,500 person-years of employment. Plutonic
Power is committed to working in partnership with First Nations,
stakeholder groups and local communities in the development of all of
its projects. By developing its suite of projects, Plutonic Power will
help British Columbia realize its goal of becoming electricity
self-sufficient by 2016 utilizing 90% clean domestic generation sources,
will create employment opportunities and will play a significant role
in the fight against climate change.
GE Energy Financial Services
Office: 604-669-4999 ext 1034