Highland Resources Announces Proposed Share Consolidation
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/20/12 -- Highland Resources Inc. (TSX VENTURE: HI) ("Highland" or the "Company") announces that the Company will seek shareholder approval to consolidate the Company's common shares on the basis of one (1) post-consolidation common share for every five (5) pre-consolidation common shares. Shareholders will be asked to approve the share consolidation by majority vote at the Company's annual general and special meeting of shareholders set for Thursday, October 11, 2012.
It is management's belief that the share consolidation will provide the Company with greater flexibility in pursuing its plans to advance its mineral exploration projects, including its ability to obtain additional financing and potentially acquire new mineral projects.
At of the date of this news release, the Company has an aggregate of 258,016,060 common shares issued and outstanding. It is expected that, upon completion of the share consolidation, there will be approximately 51,603,212 common shares issued and outstanding, subject to shares being issued pursuant to existing share purchase warrants and stock options prior to the effective date of the consolidation and subject to adjustment for fractional shares.
Contemporaneous with completion of the share consolidation, the Company plans to change its name to "Highland Copper Company Inc.". The completion of the share consolidation is subject to obtaining the requisite shareholder approval and the approval of the TSX Venture Exchange ("TSXV"). The name change is also subject to the approval of the TSXV.
Shareholders are urged to read the information circular that will be mailed to them as it contains important information regarding the proposed share consolidation. The circular will also be available on SEDAR () and on the Company's website ().
Cautionary Statement
Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's prospects. This press release contains statements about Highland's future business and planned activities, including statements about management's expectations for the shareholders' meeting, the obtaining of the TSXV approvals, and the benefits to be realized from the share consolidation. These are "forward-looking" because Highland has used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe, or other similar words. Highland believes the expectations reflected in this forward-looking information are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with Highland's business, or events that happen after the date of this press release. You should not place undue reliance on forward-looking information. As a general policy, Highland does not update forward-looking information except as required by securities laws and regulations.
About Highland
Highland Resources is a Canadian exploration company focused on exploring and developing copper projects in the "Copper Country" of the Keweenaw Peninsula within the Upper Peninsula of Michigan, U.S.A. through its 100%-held subsidiary, Keweenaw Copper Co. The Company is well funded having completed a $16.5 million private placement in May 2012. The common shares of Highland trade on the TSX Venture Exchange under the symbol 'HI'. Additional information about the Company is available on the Company's website and on SEDAR.
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.
Contacts:
Robert Eadie
President and CEO
1.604.602.4935
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Unternehmensinformation / Kurzprofil:
Datum: 20.09.2012 - 13:34 Uhr
Sprache: Deutsch
News-ID 185368
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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