Sprott Resource to invest in Corsa Coal's $8 mln private placement
Corsa Coal Corp (TSX-V: CSO), a supplier of quality metallurgical coal for steel production, has agreed to a private placement to raise US$8 million in gross proceeds. Participants in the deal will include existing investors U.S. private equity firm Quintana Capital Group, Canadian private equity firm Sprott Resource Corp, and vehicles controlled by a trust in the name of Adolf H. Lundin. Sprott Resource Lending Corp (SRLC), the company's senior lender, also invested. In connection with the deal, Corsa also agreed to amend the terms of a US$25 million credit agreement with SRLC and other lenders. Based in Canonsburg, Pennsylvania, Corsa has an office in Toronto.
24 March 2016•6 mins read
