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Corsa Coal to raise C$16M via private placement

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


Corsa Coal to raise C$16M via private placement

Corsa Coal Corp. is looking to raise gross proceeds of up to C$16.0 million via a private placement of common shares priced at 10 cents apiece, to be used for mine development, general corporate and working capital purposes.

The company granted the agents, Paradigm Capital Inc., GMP Securities Inc. and Pareto Securities AS, a 15% overallotment option.

Corsa Coal noted that company insiders are expected to subscribe for up to C$7.0 million of the offering, which is slated to close Oct. 26, subject to regulatory approvals.

The company agreed to pay US$6.5 million in early September to settle a pollution lawsuit with state and federal environmental regulators.