LONGUEUIL, QUEBEC–(Marketwired – May 16, 2016) – Highland Copper Company Inc. (TSX VENTURE:HI) (the “Company”) announces that Copper Range Company (“CRC”) and the Company have agreed to extend the period to complete the acquisition of the White Pine project for a period of up to 120 days from May 6, 2016. The final closing of the acquisition is subject to releasing CRC for financial assurance and certain environmental obligations associated with the remediation and closure plan of the historical White Pine mine site in a manner that is acceptable to all parties involved, including the applicable governmental authorities. Osisko Gold Royalties Ltd has also agreed to extend the maturity date of the C$10 million loan made to the Company to June 15, 2016.
Highland Copper Company Inc. is a Canadian exploration company focused on exploring and developing copper projects within the Upper Peninsula of Michigan, U.S.A. Additional information about Highland and more specifically about the transaction with CRC and the Osisko loan is available in previous news releases on the Company’s website at www.highlandcopper.com and on SEDAR at www.sedar.com.
Cautionary statement
Certain statements contained in this news release constitute forward looking information under the provisions of Canadian securities laws. The information contained herein reflects Highland’s views as of the date of this news release. Forward looking information is based on assumptions, and by its nature is subject to risks and uncertainties that may cause actual future events to differ materially from those anticipated in it. Such risks and uncertainties include, but are not limited to Highland being unable to meet the final closing conditions of the acquisition of White Pine on terms acceptable to Highland, CRC and the MDEQ for the transfer of environmental obligations, and the risks of not being able to reimburse the Loan if the White Pine acquisition is not completed. The materialization of any of these risks may cause actual results to be materially different from those expected by the Company at this time. The Company does not intend, and does not assume any obligation, to update forward-looking information, except as required by law. Accordingly, readers are advised not to place undue reliance on forward-looking information.
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.
Executive Chairman, Interim President and CEO
+1.450.677.2455
[email protected]
www.highlandcopper.com
