Ram Power Closes Offering

May 20, 2011 Ram Power, Corp. (Ram Power), a renewable energy company, announced that it completed its previously announced offering of 127,272,727 units consisting of one common share and one common share purchase warrant for the gross proceeds of $70,629,955.

The offering was made pursuant to an underwriting agreement between the company and a syndicate of underwriters led by Cormark Securities Inc., and including Raymond James Ltd., Jacob Securities Inc., National Bank Financial Inc. and Wellington West Capital Markets Inc. Together with the closing of the offering, the underwriters partially exercised the over-allotment option for an additional 1,145,373 Units.

Stikeman Elliott LLP acted for Ram Power with a team comprising Brian Pukier, Jillian Kovensky, Craig Broadhurst and Laura Levine (Toronto) and Charles Kraus and Benjamin Hudy (Calgary).

The underwriters were represented in Canada by Cassels Brock & Blackwell LLP with a team comprising Greg Hogan, Lindsay Clements, Nicole Washington and Chris Norton and in the US by Daniel Miller of Dorsey & Whitney LLP.

Lawyer(s)

Gregory J. Hogan Laura Levine Lindsay A. Clements Brian M. Pukier Benjamin S. P. Hudy Nicole Washington Christopher B. Norton Jillian Kovensky Craig Broadhurst