Corsa Capital Ltd. Announces Receipt of Conditional Listing Approval and Filing of Filing Statement
November 29, 2010 Toronto, Ontario – Corsa Capital Ltd. (TSXV: CSO) (“Corsa” or the “Corporation”) is pleased to announce that the TSX Venture Exchange (the “Exchange”) has conditionally accepted Corsa’s proposed acquisition previously announced in the Corporation’s press release dated August 17, 2010. As previously announced, the Corporation entered into an agreement dated August 16, 2010 (the “Agreement”) with Wilson Creek Energy, LLC (“Wilson Creek”) and the owners of Wilson Creek, pursuant to which Corsa will acquire Wilson Creek (the “Acquisition Transaction”), subject to the terms and conditions of the Agreement. The Exchange’s approval is subject to Corsa satisfying all conditions prescribed by the Exchange, including receipt by Corsa of shareholder approval for the Acquisition Transaction (by way of consent in writing from holders of a majority of its shares).
In connection with the Acquisition Transaction, Corsa is also pleased to announce that it has completed its filing statement in respect of the Acquisition Transaction. A copy of the filing statement is available on www.sedar.com (under the profile of “Corsa Capital Ltd.”).
The Corporation and the members of Wilson Creek anticipate being in a position to complete the Acquisition Transaction on or about December 8, 2010, subject to receipt of all necessary approvals and satisfaction or waiver of conditions to the Acquisition Transaction.
The Corporation’s common shares are listed for trading on the Exchange. However, in accordance with Exchange policy, the Corporation’s common shares are currently halted from trading and the Corporation expects that trading in the common shares of the Corporation will remain halted pending completion of the Acquisition Transaction and issuance by the Exchange of its final Exchange bulletin confirming the Exchange’s acceptance of the proposed acquisition.
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About the Corporation
The Corporation is a Vancouver, BC based mineral resources company. The Corporation’s management team, board of directors, and advisory board, have significant experience in mineral resource property acquisition, finance, and operations. The Corporation’s team has specific experience in developing and mining coal deposits.
As noted above, completion of the Acquisition Transaction is subject to a number of conditions, including but not limited to, acceptance by the Exchange and approval of the shareholders of the Corporation. The Acquisition Transaction will only close once the required approvals and documentation noted in this press release have been obtained. There can be no assurance that the Acquisition Transaction will be completed.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the Acquisition Transaction, any information released or received with respect to the Acquisition Transaction may not be accurate or complete and should not be relied upon. The trading in the securities of the Corporation should be considered highly speculative.
Certain information set forth in this press release contains “forward-looking statements”, and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management’s assessment of Wilson Creek’s future plans and operations and are based on Wilson Creek’s 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 “expects” “anticipates”, “believes”, “projects”, “plans”, 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 Wilson Creek’s and the Corporation’s actual performance 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 risks that regulatory and shareholder approvals will not be obtained on a basis satisfactory to the Corporation; the risk that the Acquisition Transaction will not be completed by the date specified in the Agreement dated August 16, 2010; the risk that certain conditions to the Acquisition Transaction will not be satisfied. 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.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.