Corsa Capital Ltd. completes C$69.4 million private placement

Date Closed: 9/30/2010

Value: C$69.4 million

On September 30, 2010, Corsa Capital Ltd. (Corsa), a Canadian mineral resources company, completed a private placement of 154,319,800 subscription receipts at a price of $0.45 per subscription receipt for gross proceeds of $69,443,910. Upon satisfaction of the release conditions set out in the subscription receipt trust indenture (Subscription Receipt Indenture), each subscription receipt shall be converted into one common share in the capital of Corsa. Upon release from escrow pursuant to the terms of the Subscription Receipt Indenture, the proceeds of the private placement shall be used by Corsa to indirectly fund the cash portion of the purchase price of the acquisition by Corsa of Wilson Creek Energy, LLC (Wilson Creek), to fund the construction costs of Wilson Creek's coal cleaning plant, to fund the purchase price of additional coal properties in which Wilson Creek has an interest and for general working capital purposes.

Corsa was represented by BLG, with a team led by Philippe Tardif and assisted by Larissa Tkachenko, Dolores Di Felice, Paul Simon, Tal Cyng​iser and Krstina Skocic.