December 02, 2016 11:18 ET
LONGUEUIL, QUEBEC--(Marketwired - Dec. 2, 2016) - Highland Copper Company Inc. (TSX VENTURE:HI) (the "Company") announces that, subject to the acceptance of the TSX Venture Exchange, it proposes to settle outstanding indebtedness in the amount of $494,985.75 (the "Debt") owing to Laurentian Mountains Investments Limited, a company owned as to 100% by the Chairman of the Company, by the issuance of 4,949,857 units (the "Units") having a deemed price of $0.10 per Unit. The Debt consists of operating loans advanced to the Company since August 1, 2016 together with accrued interest.
The Units have the same terms as those offered in the private placement of the Company as detailed in a news release dated November 15, 2016. Each Unit is comprised of one common share of the Company and one-half of a warrant, with each whole warrant entitling the holder to acquire a further common share of the Company at a price of $0.15 for a term of 12 months.
Securities issued in settlement of the Debt will be subject to a 4 month hold period.
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, the Company has approximately 184 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
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.
David FennellExecutive Chairmanand Interim President and CEO1.email@example.com
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