Magma Energy secures $20m for HS Orka purchase

Canadian geothermal developer Magma Energy has agreed a private placement of nearly 11.7 million shares, which will generate net proceeds of C$20.8m ($20m) to finance its initial investment in Icelandic geothermal company HS Orka.

Published: Thursday, October 15 2009 | Last updated: Friday, October 16 2009