Corsa Capital Ltd. Completes IPO and Commences Trading under the symbol CSO:TSXV
Vancouver, B.C., April 17, 2008 – Corsa Capital Ltd. (the "Company") is pleased to announce the completion of its initial public offering (the "Offering") of 3,500,000 common shares at a price of CDN$0.35 per share, for gross proceeds of CDN$1,225,000. The Company's common shares begin trading today on the TSX Venture Exchange under the symbol "CSO".
"We are pleased and proud to have Corsa trading so quickly," stated Jim Paterson, President and CEO. "We would like to take this opportunity to thank everyone involved for their support. Our shareholders, directors, officers and advisors, and a number of skilled financial, legal and administrative professionals all played a key role in helping the Company achieve this important milestone. We can all now share in the future success of Corsa."
About Corsa Capital
Corsa Capital Ltd. is a Vancouver, BC based mineral resources company. Between the management team, board of directors, and advisory board, Corsa has a wealth of relevant experience in mineral resource property acquisition, exploration and development. The Company intends to leverage this experience to acquire additional properties to build a valuable portfolio of projects. Please visit www.corsacapital.com for more information.
The Company currently has the option to earn a majority interest in the non-diamond rights for the Sy Gold Property in Nunavut, Canada. For more information on the Sy Property, please visit www.corsacapital.com or download the Technical Report available at www.sedar.com. A summary of the 2008 program to explore the Sy Property will be released prior to program commencement.
About the Offering
The Offering was sold by Canaccord Capital Corporation (the "Agent"). A cash commission of 7.5% and Agent's warrants totaling 10% of the gross proceeds of this Offering were paid to the Agent. The Agent also received a corporate finance fee of 142,857 common shares and an administrative fee of $15,000, paid in cash, in consideration for their services in connection to the Offering. The Corporation will also pay the expenses of the Agent, including expenses of counsel to the Agent.
Proceeds from the Offering will be used to cover general administration, a Phase 1 exploration program on the Sy Property, and the evaluation of additional mineral projects for potential acquisition. Full disclosure on the offering and use of proceeds can be found in the prospectus for this offering on www.sedar.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain disclosures in this release, including management's assessment of Corsa's plans and the Sy Property, 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.