Business & Finance
Business and Finance
Business and Finance
Mon, April 23, 2012
Sun, April 22, 2012
Sat, April 21, 2012
Fri, April 20, 2012 
April 20, 2012 18:28 ET
Highland Resources Inc.: $16.5 Million Private Placement Arranged
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2012) -Highland Resources Inc. (TSX VENTURE:HI) (the "Company") announces it has arranged a non-brokered private placement for gross proceeds of up to $16,500,000. The private placement will consist of up to 206,250,000 Units at a price of $0.08 per unit. Each unit is comprised of one common share of Highland and one transferable common share purchase warrant, each warrant exercisable for a period of two years from the date of issue to purchase one common share of Highland at a price of $0.15 per share.
In addition to working capital, the net proceeds of the private placement will be used to meet the Company's commitments for acquiring a 65% interest in copper properties located in the Keweenaw and Houghton counties of Michigan (the "Property") (See press release dated November 1, 2011).
The private placement is subject to TSX Venture Exchange (the "Exchange") acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
A finder's fee will apply in this transaction in accordance with the policies of the Exchange.
ON BEHALF OF THE BOARD
Robert Eadie, President, Chief Executive Officer and Director
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.
