Sunday 21st October 2018

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Corsa Capital reports $63.8m Private Placement re Takeover of Wilson Creek

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.
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Jim Paterson,

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