Highland Copper Company Inc. (TSX-V: HI) (OTCQB: HDRSF) is pleased to announce that, further to its news release dated August 30, 2021, it has completed the second tranche of its previously announced non-brokered private placement for gross proceeds of C$1,050,000. The second tranche of the Offering consisted of the issuance of 10,500,000 units at a price of C$0.10 per Unit. Each Unit consisted of one common share of the Company and one half of one common share purchase warrant, with each Warrant exercisable to acquire one common share at C$0.18 until September 9, 2023. In connection with the completion of the second tranche of the Offering, the Company is paying cash finder’s fees of C$50,000.
With the first tranche of the Offering that closed on August 27, 2021, a total of 263,429,930 Units were issued and the Company raised total gross proceeds of C$26,342,993. The Company now has 736,363,619 common shares and 131,714,965 share purchase warrants issued and outstanding. All of the Company’s liabilities have now been settled and the Company will use the net proceeds of the Offering to advance the development of the Copperwood and White Pine North projects and for general working capital purposes.
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A.
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We acknowledge the [financial] support of the Government of Canada.