Corsa Announces Receipt of Funding under Main Street Lending Program
December 22, 2020 – Friedens, Pennsylvania – Corsa Coal Corp. (TSXV: CSO; OTCQX: CRSXF) (“Corsa” or the “Company”) today reported that the previously announced $25 million five-year secured term loan (the “Term Loan”) between certain of its subsidiaries, as borrowers, and KeyBank National Association, as lender, under the Main Street Lending Program established by the board of governors of the U.S. Federal Reserve System, has closed and has been funded.
For further details regarding the Term Loan, including its terms and conditions and the Company’s anticipated use of proceeds, please see the Company’s December 21, 2020 press release.
Information about Corsa
Corsa is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Our core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets.
Certain information set forth in this press release contains “forward-looking statements” and “forward-looking information” under applicable securities laws (collectively, “forward looking statements”). Except for statements of historical fact, all other statements in this press release constitute forward-looking statements which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “capacity”, “hope”, “forecast”, “anticipate”, “could” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Corsa’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the anticipated usage and benefits of the Term Loan and management’s ability to anticipate and manage the foregoing. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. Corsa does not undertake to update any of the forward-looking statements contained in this press release unless required by law.
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