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| Home : Corsa Announces Agreement to Purchase the Casselman Mine and a US$25 Million Credit Facility |
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Mar 23
2011 |
Corsa Announces Agreement to Purchase the Casselman Mine and a US$25 Million Credit Facility |
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TORONTO, ONTARIO--(Marketwire - March 22, 2011) - Corsa Capital Ltd. (TSX VENTURE:CSO) ("Corsa" or the "Corporation") is pleased to announce that it has entered into an agreement dated March 22, 2011 (the "Agreement") with the owner of the Casselman mine, Maryland Energy Resources, LLC ("MER"), and the owners of MER, pursuant to which Corsa will acquire MER (the "Casselman Mine Transaction"). The purchase price is US $15,000,000 and the assumption of approximately US $1.2 million of debt. In addition, production from the Casselman Mine is subject to a 1.25 percent royalty in favour of the MER vendors. |
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| Source:http://www.marketwire.com/mw/release.do?id=1415847&sourceType=3 |
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