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Lorito and Zebra agree on Corsa Coal shares acquisition

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World Coal,

Lorito Holdings S.à.r.l. (Lorito) and Zebra Holdings and Investments S.à.r.l (Zebra) – two companies controlled by a trust settled by the late Adolf H. Lundin – have entered into subscription agreements effective 22 March 2016 pursuant to which each will acquire by way of private placement directly from Corsa Coal Corp. 25 968 000 common shares of Corsa for a consideration of CAN$0.05 per common share.

Upon completion of these acquisitions, Lorito and Zebra will hold 127 802 667 and 120 908 666 common shares respectively of Corsa representing approximately 8% and 7.6% respectively of the issued capital of Corsa following completion of the proposed private placement announced by Corsa on 22 March 2016.

Lorito and Zebra are joint actors with respect to their holdings in Corsa and have acquired the shares for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investment in Corsa depending upon the business and prospects of Corsa and depending upon future market conditions.

Edited from press release by Harleigh Hobbs

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