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Corsa Coal (TSXV:CSO) announced that it has closed its previously announced private placement for gross proceeds of C$23.0 million.
Corsa Coal (TSXV:CSO) announced that it has closed its previously announced private placement for gross proceeds of C$23.0 million.
As quoted in the press release:
An aggregate of 230,000,000 common shares of the Company (“Common Shares”) were issued at C$0.10 per Common Share for gross proceeds of C$23.0 million (the “Private Placement”), 213,880,000 of which were issued and sold on a brokered basis and 16,120,000 of which were issued and sold on a non-brokered basis. The proceeds of the Private Placement will be used for mine development, general corporate and working capital purposes. The Private Placement was originally announced on October 5, 2016 and subsequently upsized on October 7, 2016.