Company concludes non-brokered offering at a price of C$0.28 per unit
By Devika Patel
Knoxville, Tenn., Jan. 31 - Highland Resources Inc. said it has completed a non-brokered private placement of units. The deal raised C$2.02 million.
The company sold 7,204,000 units of one common share and one half-share warrant at C$0.28 each.
The whole warrants are exercisable at C$0.40 each for two years. The strike price reflects a 50.94% premium to the Jan. 28 closing share price of C$0.265.
Highland is a gold explorer based in Vancouver, B.C.
| Issuer: | Highland Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,017,120
|
| Units: | 7,204,000
|
| Price: | C$0.28
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Settlement date: | Jan. 31
|
| Stock symbol: | TSX Venture: HI
|
| Stock price: | C$0.24 at close Jan. 31
|
| Market capitalization: | C$5.18 million
|
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