Pursuant to a private placement, Lorito Holdings S.à.r.l. (Lorito) and Zebra Holdings and Investments S.à.r.l (Zebra) have each acquired 30 000 000 common shares of Corsa Coal Corp. at a price of US$0.10/share – representing in the aggregate approximately 3.2% of the outstanding shares of Corsa.
As a result of the acquisition, Lorito will hold 157 802 667 common shares (approximately 8.36%) of the issued shares of Corsa and Zebra will hold 150 908 666 common shares (approximately 7.99%) of the issued shares of Corsa.
Lorito and Zebra are joint actors with respect to their common shares of Corsa, which were acquired for investment purposes. Each of Lorito and Zebra may from time to time increase or decrease their investments in the common shares of Corsa depending upon the business and prospects of Corsa and depending upon future market conditions.