Vancouver-based Magma Energy acquires 98.53% of Iceland’s HS Orka

Magma Energy Corp. (Vancouver, B.C.) announced that its wholly owned subsidiary Magma Energy Sweden A.B. has completed its acquisition of a 98.53% interest in Iceland geothermal energy developer HS Orka hf. The completion of the deal was executed through the acquisition of 14.32% of HS Orka’s outstanding shares from Geysir Green Energy ehf, a global geothermal company based in Iceland.