Corsa Closes Private Placement
Vancouver, B.C. – Corsa Capital Ltd. (CSO:TSX-V) announced today the closing of the private placement announced on May 7, 2009. The offering totaled 4,300,000 Units at a price of $0.10 per Unit for gross proceeds of $430,000.
Each Unit sold is comprised of one common share and one common share purchase warrant (a “Warrant”) exercisable into one common share at a price of $0.15 per share for a period of 24 months from the date of issuance. The warrants associated with this financing expire June 10, 2011.
All of the shares, and any shares issued upon exercise of the units, are subject to a hold period and may not be traded in Canada until October 11, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
The proceeds from the offering will be used for general working capital and no finders’ fee will be associated with this offering. 3,540,000 shares of the 4,300,000 sold in association with this financing were purchased by insiders of the Company.
About Corsa Capital
Corsa Capital Ltd. is a Vancouver, BC based mineral resources company. Corsa’s management team, board of directors, and advisory board, have significant experience in mineral resource property acquisition, development, and operations. The Company intends to leverage this experience to acquire additional properties and build a valuable portfolio of projects. Please visit www.corsacapital.com for more information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release, including management's assessment of Corsa’s plans, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Corsa's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Corsa expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.