Each
receipt
will
be
automatically
exchanged,
without
additional
consideration
on
the
exchange
date,
for
one
unit
of
US
Geothermal.
Each
unit
consists
of
one
share
of
common
stock
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
US
Geothermal
for
a
period
of
24
months
following
the
closing
of
the
offering
for
US$1.75
per
share
of
common
stock.
Net
proceeds
of
the
offering
will
be
used
by
US
Geothermal
for
drilling
wells
at
the
Neal
Hot
Springs
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