TORONTO, Oct. 26, 2016 /CNW/ - Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l ("Zebra") 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, two companies controlled by a trust settled by the late Adolf H. Lundin, announced today that pursuant to a private placement, Lorito and Zebra have each acquired 30,000,000 common shares of Corsa Coal Corp. ("Corsa" TSXV.CSO) at a price of $0.10 per 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 or approximately 8.36% of the issued shares of Corsa and Zebra will hold 150,908,666 common shares or 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.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 may be obtained from John Craig, 1-416-869-5756

SOURCE Lorito Holdings S.A.R.L.