British Columbia-based Magma Energy Corp. is looking to raise a minimum of $50 million CDN ($45 million US) in its initial public offering. The company currently owns the Soda Lake power generation plant in Fallon, Nevada and it is looking to expand, with four advanced exploration properties, three in Nevada and one in Utah. It also holds numerous early-stage exploration properties in Nevada, Chile, Argentina and Peru. The lead underwriters for t he IPO are Raymond James and Cormark Securities. (Source: Dow Jones, June 3, 2009)

Contact: Andrea Zaradic, Vice President, Corporate Development, Magma Energy Corp, (604) 646-1874,,