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Corsa Coal (TSXV:CSO) has completed its previously announced private placement for gross proceeds of US$7.25 million. Proceeds will be used for working capital and for general corporate purposes.
Corsa Coal (TSXV:CSO) has completed its previously announced private placement for gross proceeds of US$7.25 million. Proceeds will be used for working capital and for general corporate purposes.
As quoted in the press release:
Upon the completion of the Private Placement, the previously announced waivers and amendments set out in the first amending agreement (the “Amending Agreement”) to the credit agreement governing the US$25 million credit facility of Corsa’s wholly-owned subsidiary Wilson Creek Holdings, Inc. became effective. The Private Placement and the Amending Agreement were originally announced on October 21, 2015.
The TSX Venture Exchange (“TSXV”) has granted approval of the listing of the Common Shares issued under the Private Placement. Such Common Shares are subject to resale restrictions pursuant to applicable securities laws and requirements, as well as stock exchange rules, and will not be freely tradeable until February 24, 2016.