Corsa Coal announces mailing of shareholder meeting materials and proposed future Share Consolidation

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TORONTO, Aug. 23, 2013 /CNW/ - Corsa Coal Corp. (TSXV: CSO) ("Corsa" or the "Company") announces the mailing of the meeting materials with respect to the Company's annual and special meeting of shareholders to be held at 9:00 a.m. (Toronto time) on Wednesday, September 18, 2013, at the offices of Stikeman Elliott LLP,Main Boardroom, 53^rd Floor, Commerce Court West, 199 Bay Street, Toronto, Ontario (the "Meeting"). Meeting materials will be available online through our website at www.corsacoal.com or under the Company's profile on SEDAR at www.sedar.com

The Company also announces that, subject to applicable shareholder and regulatory approval (including approval and acceptance by the TSX Venture Exchange), Corsa may, in the future, consolidate its outstanding common shares on the basis of one (1) post-consolidation common share for up to every twenty (20) pre-consolidation common shares if, and at such time following the date of the Meeting as, the directors of the Company so determine, as more particularly described in the management information circular mailed to shareholders in connection with the Meeting (the "Share Consolidation"). Although approval for the Share Consolidation is being sought at the Meeting, such a Share Consolidation would become effective at a date in the future to be determined by Corsa's Board of Directors when the Board considers it to be in the best interests of the Company to implement such a Share Consolidation.

About Corsa Coal Corp.

Corsa's primary business is the mining, processing and selling of metallurgical and thermal coal as well as actively exploring, acquiring and developing resource properties consistent with its coal business.

Forward-Looking Statements

Certain information set forth in this press release contains "forward-looking statements" and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein relating to a possible future consolidation of the common shares of the Company constitutes forward-looking statements, which may prove to be incorrect. These statements are not guarantees of a future consolidation of the common shares of the Company and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual actions to differ materially from any actions expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the shareholders of the Company failing to approve a possible consolidation of the common shares of the Company, the failure of the Company to obtain all applicable regulatory approvals (including approval and acceptance of the TSX Venture Exchange) and management's ability to anticipate and manage the foregoing factors and risks. The forward-looking statements and information contained in this press release are based on certain assumptions regarding, among other things, the desirability of a possible consolidation of the common shares of the Company to the shareholders of the Company and the Company's ability to obtain all applicable regulatory approvals (including approval and acceptance of the TSX Venture Exchange). There can be no assurance that forward-looking statements will prove to be accurate, as actual actions and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this press release unless required by law.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Corsa Coal Corp.