BRIEF-Corsa Coal announces private placement of common shares for $8 mln

Tue Mar 22, 2016 8:17am EDT
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March 22 (Reuters) - Corsa Coal Corp

* Announces private placement of common shares for $8 million and amendments to credit agreement

* Reduction in minimum consolidated cash requirement under credit agreement from $2 million to $1 million

* Co's unit entered into second amending agreement to amend certain terms of credit agreement governing $25 million credit facility made available by lenders

* Says to complete a non-brokered private placement for an aggregate of 207.7 million shares of company to be issued at c$0.05per share Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)