Non-brokered offering sells 24,426,434 common shares at C$0.15 apiece
By Devika Patel
Knoxville, Tenn., Oct. 7 – Highland Copper Co. Inc. said it completed its C$3,663,965 non-brokered private placement of stock with Osisko Gold Royalties Ltd. The deal priced for C$3,892,302 on Monday.
The company sold 24,426,434 common shares at C$0.15 each. The price per share is identical to the Oct. 2 closing share price.
Proceeds will be used to complete the acquisition of White Pine, for development of the company’s projects in the Upper Peninsula of Michigan and for general corporate purposes.
The copper explorer is based in Longueuil, Quebec.
Issuer: | Highland Copper Co. Inc.
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Issue: | Common shares
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Amount: | C$3,663,965
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Shares: | 24,426,434
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Price: | C$0.15
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Warrants: | No
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Investor: | Osisko Gold Royalties Ltd.
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Pricing date: | Oct. 5
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Settlement date: | Oct. 7
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Stock symbol: | TSX Venture: HI
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Stock price: | C$0.15 at close Oct. 2
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Market capitalization: | C$16.56 million
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