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Highland Copper Company Inc closes financing and acquisition of Copperwood project

Tuesday, 17 Jun 2014 03:55pm EDT 

Highland Copper Company Inc:Says that it completes final closing of its previously announced private placement by issuing 36,694,800 of its common shares at price of C$0.50 per share for total gross proceeds of C$18.3 mln (Private Placement).Company also announces closing of previously announced acquisition of Copperwood Project (Copperwood) located in Upper Peninsula of Michigan, U.S.A. from Orvana Minerals Corp. (Orvana).Net proceeds of Private Placement will be used to pay $13 mln to Orvana and to settle transaction-related costs, with the balance being used for exploration and development of the Company's projects as well as for general working capital requirements. 

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