/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CANONSBURG, PA, May 13, 2016 /CNW/ - Corsa Coal Corp. (TSXV: CSO)
("Corsa" or the "Company") today announces that, in
connection with its previously announced appointment of Paradigm
Capital Inc. to sell common shares of the Company, by way of
private placement on a best efforts basis (the "Offering"),
pricing has been set at C$0.05 per
common share for the sale of up to 200,000,000 common shares.
Additional details surrounding the Offering can be found in the
Company's press release dated April 18,
2016.
As previously announced, the closing of the Offering is expected
to occur on or about such date or dates as agreed upon by the
Company and the Agent and is subject to receipt of all necessary
regulatory approvals, including approval of the TSX Venture
Exchange (the "TSXV"). The Common Shares issued with respect
to the Offering will be subject to a four month hold period in
accordance with applicable Canadian securities laws.
This news release does not constitute an offer of securities for
sale in the United States. The
securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within
the United States absent U.S.
registration or an applicable exemption from U.S. registration
requirements.
Information about Corsa
Corsa is one of the leading suppliers of premium quality
metallurgical coal, an essential ingredient in the production of
steel, which is necessary for the secular trends in global
urbanization. Our core business is supplying metallurgical coal
with the highest safety, yield, and strength characteristics to
domestic steel producers while being a strategic source of supply
in the Atlantic and Pacific basin markets. Corsa also offers high
heat content, low delivered cost coal to major utilities and
industrial users in the Southeast region of the U.S.
Forward-Looking Statements
This press release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws (collectively, "forward looking statements") and
which are based on the expectations, estimates and projections of
management of Corsa as of the date of this press release unless
otherwise stated. Forward-looking statements are statements and
information regarding possible events, conditions or results of
operations that are based upon assumptions about future economic
conditions and courses of action. Some of the forward-looking
statements may be identified by words such as "expects",
"anticipates", "believes", "plans", "projections", "outlook",
"intends", "may", "could", "would", "might", "will" and similar
expressions. More particular and without limitation, this press
release contains forward-looking statements and information
concerning the anticipated completion of the Offering.
By their very nature, forward looking statements involve
numerous assumptions, inherent risks and uncertainties, both
general and specific, and the risk that predictions and other
forward looking statements will not prove to be accurate. Do not
unduly rely on forward looking statements, as a number of important
factors, many of which are beyond Corsa's control, could cause
actual results to differ materially from the estimates and
intentions expressed in such forward looking statements.
Forward looking statements speak only as of the date those
statements are made. Except as required by applicable law, Corsa
does not assume any obligation to update, or to publicly announce
the results of any change to, any forward looking statement
contained herein to reflect actual results, future events or
developments, changes in assumptions or changes in other factors
affecting the forward looking statements.
The TSXV has in no way passed on the merits of this news
release. Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Corsa Coal Corp.