HIGHLAND COPPER COMPANY INC. ("HI")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 23, 2015
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a master agreement dated April 17, 2015 (the 'Agreement') between the Company and Great Lakes Resources, LLC ('Great Lakes'). Pursuant to the terms of the Agreement, the Company will lease for a period of twenty years certain mining rights in White Pine, Michigan (the 'Assets'). By way of consideration, the Company will make cash payments totalling US$225,000 at closing and will issue US$400,000 (C$488,160) of shares to Great Lakes. The deemed price per share will be the 20-day volume-weighted average trading price of the Company as of the day prior to closing (the deemed price per share will be no less than the Discounted Market Price). Additional cash payments during the twenty-year life of the Agreement will also be payable. The Assets are subject to certain sliding scale royalties on production.
Please refer to the Company's news release dated April 20, 2015 for further details.
________________________________________
|
|
