CSO:CA provided an update on the financing and acquisition of Wilson Creek Energy, LLC. The private placement will result in the issuance of subscription receipts of the Corporation at $0.45 per, for gross proceeds of approximately $63.8 million. Additionally, Corsa proposes to enter into a loan arrangement with two investors for $5 million, to be evidenced by a debenture.
The proceeds will be used to advance funds to Wilson Creek to fund payments for the construction of a wash plant. In connection with the issuance of the debenture, Corsa will issue to the holders 2,000,000 common shares.
View Company Profile