Magma Closes $26.3 Million Financing

VANCOUVER, BRITISH COLUMBIA - Magma Energy Corp. (”Magma”) announces that it has closed a $26.3 million financing through the issuance of 21,045,000 common shares at a price of $1.25 per share. Magma is currently a private company with, post-financing, approximately 160 million shares issued and outstanding. Read more

Geothermal Energy Description

The word geothermal comes from the Greek words geo (earth) and thermal (heat). So, geothermal energy is heat from within the earth. We can use the steam and hot water produced inside the earth to heat buildings or generate electricity. Geothermal energy is a renewable energy source because the water is replenished by rainfall and the heat is continuously produced inside the earth. Read more