Chronicle Journal: Finance

Corsa Provides Further Update in Connection with Pennsylvania's COVID-19 Business Closure Order

FRIEDENS, PA, March 20, 2020 /CNW/ - Corsa Coal Corp. (TSXV: CSO; OTCQX: CRSXF) ("Corsa" or the "Company") announced that as of earlier this evening the Company's physical business locations in the State of Pennsylvania are no longer required to close under the March 19, 2020 order of Pennsylvania Governor Tom Wolf that requires all non-life-sustaining businesses in Pennsylvania to close their physical locations for an indefinite period in connection with COVID-19. Updated business guidance in connection with the order includes coal mining and support activities for mining as life-sustaining businesses and, as a result of this development, Corsa has recommenced operations at its mines and preparation plants in Pennsylvania.

The Company will continue to monitor and analyze the impact of COVID-19, along with measures implemented by governmental authorities to contain its spread, on Corsa's employees, business and operations, including suppliers and customers, as well as the Company's financial condition.

Information about Corsa

Corsa is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Our core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets.

Forward-Looking Statements

Certain information set forth in this press release contains "forward-looking statements" and "forward-looking information" under applicable securities laws (collectively, "forward looking statements"). Except for statements of historical fact, all other statements in this press release constitute forward-looking statements which include coal mining and support activities for mining continuing to be included as a life-sustaining businesses under the order and the recommencement of Corsa's operations in Pennsylvania and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect, particularly so given the unprecedented uncertainty in connection with COVID-19. Some of the forward-looking statements may be identified by words such as "estimates", "expects" "anticipates", "believes", "projects", "plans", "capacity", "hope", "forecast", "anticipate", "could" and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Corsa's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited: coal mining and support activities for mining continuing to be included as a life sustaining businesses under the order, and Corsa otherwise being able to continue to operate in light of the ongoing COVID-19 pandemic. The forward-looking statements contained in this press release are based on certain assumptions regarding, among other things, the ability of the Company to continue to operate in light of the ongoing COVID-19 pandemic and accordingly, the Company's business and financial condition. There can be no assurance that forward-looking statements will prove to be accurate, as actual results 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. Corsa does not undertake to update any of the forward-looking statements contained in this press release unless required by law.

SOURCE Corsa Coal Corp.

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