VANCOUVER, Dec. 22 /CNW/ - Magma Energy Corp. (TSX: MXY) advises that it has issued 24,808,569 shares to a subsidiary
of Geysir Green Energy ehf ("GGE") pursuant to the conversion of the
subscription receipt issued to GGE as part of the consideration paid by
Magma Energy Sweden A.B. ("Magma") for the acquisition of its 98.53%
interest in HS Orka hf. Magma's obligations to GGE under the share
purchase agreement are now complete.
About Magma Energy Corp.
Magma Energy Corp. is a global geothermal power company which operates,
develops, explores and acquires geothermal energy projects. We have an
extensive portfolio of properties throughout the western United States,
Iceland and Latin America, including one operating power plant in
Nevada and two in Iceland.
SOURCE MAGMA ENERGY CORP.
For further information: For further information:
Alison Thompson, Vice President, Corporate Relations
Magma Energy Corp.