Magma Energy Completes Purchase of a Further Interest in Icelandic Geothermal Energy Producer HS Orka

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Magma Energy Completes Purchase of a Further Inte .. t in Icelandic Geothermal Energy Producer HS Orka

Magma Energy Completes Purchase of a Further Interest in Icelandic Geothermal Energy Producer HS Orka

^{Published on 2010-08-17 08:50:22 - Market Wire}

 - payment today of 3,871,195,513 Icelandic Kroner ("ISK") (approximately US $32.3 million); - issuance today of 24,808,569 subscription receipts of Magma Energy Corp.; and - payment on November 30, 2010 of approximately 3,062,612,586 ISK (approximately US $25.6 million), subject to certain interest adjustments.

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