Highland Resources Inc.
TSX VENTURE : HI

Highland Resources Inc.

January 31, 2011 15:49 ET

Highland Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2011) - Highland Resources Inc. (TSX VENTURE:HI) (the "Company") announces it has closed its non-brokered private placement, issuing 7,204,000 Units at a price of $0.28 per Unit, for gross proceeds of $2,017,120. Each unit is comprised of one common share of Highland and one-half of one transferable common share purchase warrant, each whole warrant exercisable for a period of two years from the date of issue to purchase one common share of Highland at a price of $0.40 per share.

Finder's fees in the aggregate amount of $104,272 and 465,500 warrants were paid to various finders for portions of the financing attributable to their efforts. The finder's warrants are exercisable at $0.30 per share for a period of 12 months. All of the securities issued pursuant to this offering are restricted from trading for a period of four months and one day after the closing date. 

ON BEHALF OF THE BOARD

Roger Blair, President

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

Contact Information

  • Highland Resources Inc.
    Roger Blair
    1-604-602-4935
    1-604-602-4936 (FAX)