Highland Copper (HI-V) Nov 15, '16 announces plans to complete a non-brokered private placement of its securities comprised of up to 230 million units at C$0.10 per Unit, to raise up to approximately US$17 million. Each Unit will consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"), with each Warrant exercisable to acquire one common share at C$0.15 for a period of 12 months from the closing date of the Offering.
The Company intends to use the proceeds from the Offering to update the feasibility of the Copperwood project, to complete the acquisition of the White Pine project, to settle its liabilities, and for general corporate purposes.
The Company expects to close a portion of the Offering by the end of November 2016 and the balance by December 15, 2016, subject to certain conditions including but not limited to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange ("TSXV"). The securities issuable under the Offering will be subject to a hold period expiring four months and one day after the closing date. In connection with the Offering, the Company may pay finder's fees to qualified finders in accordance with the policies of the TSXV.
The securities comprising the Units have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will the Units be sold in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any public offering of securities to be made in the United States must be made by means of a prospectus containing detailed information about the Company and management, as well as financial statements.
ABOUT HIGHLAND
Highland Copper Company Inc. is a Canadian exploration company focused on exploring and developing copper projects on the Upper Peninsula of Michigan, U.S.A. As of the date of this news release, Highland has approximately 153 million issued and outstanding common shares listed on the TSX Venture Exchange under the symbol 'HI'.
Additional information about Highland is available on the Company's website at www.highlandcopper.com and on SEDAR at www.sedar.com
CONTACT INFORMATION:
David Fennell
Executive chairman and interim president and CEO
1.450.677.2455
info@highlandcopper.com
www.highlandcopper.com |
