Deal sells 25 million units of one common share, a half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 16 – Highland Copper Co. Inc. said it plans a C$10 million non-brokered private placement of units. Northfield Capital Group has committed to invest C$2 million.
The company will sell 25 million units of one common share and one half-share warrant at C$0.40 per unit.
Each whole warrant is exercisable at C$0.55 for 18 months. The strike price is a 37.5% premium to the Dec. 15 closing share price of C$0.40.
Proceeds will be used for exploration, development and general corporate purposes.
The copper explorer is based in Longueuil, Quebec.
| Issuer: | Highland Copper Co. Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 25 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.55
|
| Agents: | Non-brokered
|
| Investor: | Northfield Capital Group (for C$2 million)
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: HI
|
| Stock price: | C$0.40 at close Dec. 15
|
| Market capitalization: | C$20.41 million
|
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