Corsa Coal arranges C$10.39 million private placement of common stock

Non-brokered deal offers 207,744,000 common shares at C$0.05 per share

By Devika Patel

Knoxville, Tenn., March 22 – Corsa Coal Corp. said it plans a C$10.39 million non-brokered private placement of stock with affiliates of Quintana Energy Partners II, LP, Sprott Resource Partnership, Lorito Holdings Sarl and Zebra Holdings and Investments Sarl.

The company will sell 207,744,000 common shares at C$0.05 per share, which is a 16.67% discount to the March 21 closing share price of C$0.06.

Quintana has agreed to buy 51,936,000 shares for C$2,596,800, Sprott Resources has agreed to buy 51,936,000 shares for C$2,596,800, and Zebra and Lorito have agreed to buy 51,936,000 shares for C$2,596,800.

Settlement is expected March 24.

Corsa is a coal explorer in Toronto.

Issuer:	Corsa Coal Corp.
Issue:	Common stock
Amount:	C$10,387,200
Units:	207,744,000
Price:	C$0.05
Warrants:	No
Agent:	Non-brokered
Investors:	Quintana Energy Partners II, LP (for C$2,596,800), Sprott Resource Partnership (for C$2,596,800), Lorito Holdings Sarl and Zebra Holdings and Investments Sarl (for C$2,596,800)
Pricing date:	March 22
Settlement date:	March 24
Stock symbol:	TSX Venture: CSO
Stock price:	C$0.06 at close March 21
Market capitalization:	C$95.26 million

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