Corsa Appoints Robert Scott and Patrick Connolly to Board
Vancouver, B.C., August 26, 2009 – Corsa Capital Ltd. (CSO: TSX-V) is pleased to announce that effective August, 25, 2009, Robert Scott and Patrick Connolly joined the Company's board of directors. Mr. Scott has over 30 years of experience in the mining industry. He most recently served as President and CEO of PBS Coals Ltd. Mr. Connolly has been serving as an Advisor to the Company.
Changes to Corsa's Board of Directors
Robert Scott, CA, ACMA, was a key executive with the PBS Group since 1985, most recently in the role of President and CEO of PBS Coals Ltd. up until his recent departure from the group. From 1985 to 1988, he served as CFO and Operations Director before becoming President in 1989. Prior to this, he was CFO of NSM Ltd., involved in coal mining worldwide. He also served for 13 years as a Director for Derek Crouch plc, a U.K. public mining company involved with operations in the U.K. and U.S.A, and held the positions of CFO as well as Executive Director for the U.S. mining division. Mr. Scott is a Scottish Chartered Accountant and a Chartered Management Accountant.
Patrick Connolly, previously served as a Special Advisor to Corsa’s board of directors, and was a director of PBS Coals Ltd. prior to its being sold in 2008. Mr. Connolly has over 30 years experience in commercial and investment banking. Please see Corsa news release of June 11, 2009 for a more comprehensive biography of Mr. Connolly.
John E. Robins, one of the founders of Corsa Capital, has stepped down as director, effective August 25, 2009 in order to allow for the new additions to the board. Mr. Robins is a well known explorationist and entrepreneur in the mining industry and is based in Vancouver, Canada. Jim Paterson, Corsa’s CEO, stated, “We sincerely thank John for his guidance as a director of the Company to date. We are happy to report that John will remain as an Advisor to the Company as we move forward.”
Issuance of Options
The Board of Directors has granted an aggregate of 250,000 stock options to insiders of the Corporation under the Company’s Stock Option Plan, subject to regulatory approval.
The options are exercisable at a price of $0.55 per common share, vest immediately, are subject to a four month hold period, and expire on August 26, 2014.
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.
President and CEO
Corsa Capital Ltd.
604-646-4527 main line
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.