Corsa Capital Ltd.: Proposed Acquisition Transaction and Private Placement

Corsa Capital Ltd. (TSX VENTURE:CSO) announced that it has entered into an agreement dated August 16, 2010 with Wilson Creek Energy, LLC and the owners of Wilson Creek, pursuant to which Corsa will acquire Wilson Creek, subject to the terms and conditions of the Agreement, including the completion of the Private Placement.

The press release is quoted as saying:

A private placement equity financing from treasury (the “Private Placement”) of approximately $56 million and an issuance of a convertible debenture with a principal amount of approximately $7.8 million are intended to be completed by Corsa in connection with the Acquisition Transaction.

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