Magma Energy Corp. - News Releases

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	September 01, 2009 Magma Energy To Acquire 32.32% Of Iceland Geothermal Energy Producer HS Orka VANCOUVER, B.C., CANADA, SEPTEMBER 1, 2009 - Magma Energy Corp. (TSX:MXY) announces that it has signed an agreement to acquire 32.32% of Iceland geothermal company HS Orka hf ("HS Orka") from Reykjavik Energy ("RE") and two other HS Orka shareholders. As previously announced, Magma was selected as preferred bidder by RE to acquire this significant stake in HS Orka. The agreement provides that Magma's wholly owned subsidiary will purchase the interest for 3.7 billion Icelandic Króner ("IS... (6 KB)
	August 19, 2009 Magma Energy Reports Progress at Project to Expand Soda Lake Geothermal Operation VANCOUVER, B.C., CANADA, AUGUST 19, 2009 -- Magma Energy Corp. (TSX:MXY), has completed two drill holes at its Soda Lake geothermal operation in Nevada to depths of 4,468 feet and 8,995 feet respectively. The wells were drilled to provide further information regarding the distribution of heat and permeability of the reservoir as part of the Company's plans to double Soda Lake's gross generating capacity from 11 megawatts to 23 megawatts. Maximum temperatures in the wells were 395 oF and 4... (5 KB)
	August 17, 2009 Magma Energy Selected as Preferred Bidder to Acquire Up to 32.32% of Iceland Geothermal Energy Producer HS Orka VANCOUVER, B.C., CANADA, AUGUST 17, 2009 -- Magma Energy Corp. (TSX:MXY) announces that it has been selected as the preferred bidder to acquire up to 32.32% of Iceland geothermal company HS Orka through an auction process carried out by Reykjavik Energy ("RE") on behalf of itself and two other HS Orka shareholders. Magma and RE are now negotiating detailed terms of Magma's acquisition and expect to conclude negotiations during August with a closing aniticipated in September. On July 23, 2... (7 KB)
	July 23, 2009 Magma Energy Acquires Interest In Icelandic Geothermal Energy Producer VANCOUVER, B.C., CANADA, July 23, 2009 - Magma Energy Corp. (TSX: MXY) announces that it has signed an agreement to acquire from Geysir Green Energy a minority interest in HS Orka, a large producing geothermal company in Iceland. The agreement provides that Magma will purchase an 8.62% shareholding in HS Orka for 2.5 billion Icelandic Króner ("ISK") (approximately US$20 million) payable at closing and a 2.16% shareholding in HS Orka for 625 million ISK (approximately US$5 million) payable... (7 KB)
	July 22, 2009 Initial Drilling At Maule Property, Chile Indicates Inferred Geothermal Resource Of 140 Megawatts VANCOUVER, B.C., CANADA, July 22, 2009 -- Magma Energy Corp. (TSX: MXY) ("Magma") announces the successful completion of its first slim hole that tested the geothermal reservoir at its Maule property, 300 km south of Santiago in Chile. Temperatures exceeded 200 degrees Celsius at a depth of 650 meters below surface. Drilling of the US$1.6 million slim hole followed a US$400,000 magnetotelluric geophysical program carried out in March 2009 which outlined a large anomaly in the vicinity of ... (6 KB)
	July 20, 2009 Magma Announces Closing Of Over-Allotment Option VANCOUVER, B.C., CANADA, July 20, 2009 -- Magma Energy Corp. ("Magma") announced today, in connection with the initial public offering (the "Offering") of Magma which closed on July 7, 2009, the closing of the exercise of the over-allotment option for 6,933,334 common shares from its treasury at a price of Cdn.$1.50 per share, for gross proceeds of Cdn.$10,400,001.00. Magma has now completed the distribution of its common shares under the Offering. As of July 20, 2009 Magma has 236,89... (4 KB)
	July 17, 2009 Underwriters Partially Exercise Magma Energy Corp. Over-Allotment Option NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, B.C., CANADA, July 17, 2009 -- Magma Energy Corp. ("Magma") announced today that the underwriters of its initial public offering have partially exercised their over-allotment option and will purchase from Magma's treasury 6,933,334 common shares of Magma at a price of Cdn.$1.50 per share, for gross proceeds of Cdn.$10,400,001.00. The closing for the exercise of the over-allotment option ... (4 KB)
	July 14, 2009 Magma Energy Corp. Acquires Seven New Geothermal Properties In Nevada Lease Sale VANCOUVER, B.C., CANADA, July 14, 2009 - Magma Energy Corp. (TSX: MXY) ("Magma") today acquired seven new properties at an auction by the Bureau of Land Management of geothermal leases on U.S. federal government lands in Nevada. The leases comprise approximately 67,950 acres and were acquired for a total cost of US$2,559,000. Three of these leases, comprising approximately 13,200 acres, are located adjacent to our Soda Lake operation and one lease, comprising approximately 3,600 acres, ... (5 KB)
	July 07, 2009 Magma Energy Corp. Closes C$100 Million Initial Public Offering Of Common Shares NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, B.C., CANADA, July 7, 2009 - Magma Energy Corp. (TSX: MXY) ("Magma") has closed its previously announced initial public offering of common shares (the "Offering"). Pursuant to the Offering, Magma today issued 66,667,000 common shares at a price of C$1.50 per common share, for aggregate gross proceeds of C$100,000,500. Magma has granted to the underwriters an over-allotment option, exerc... (3 KB)
	June 26, 2009 Magma Energy Corp. Announces Pricing Of Its Initial Public Offering NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, B.C., CANADA, June 26, 2009 -- Magma Energy Corp. ("Magma") announced today the pricing of its initial public offering of 66,667,000 common shares at a price of C$1.50 per common share, for total gross proceeds of approximately C$100 million. The offering is expected to close on July 7, 2009. A syndicate of underwriters, co-led by Raymond James Ltd. and Cormark Securities Inc., has... (5 KB)

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