Highland Copper Announces Further Extension of White Pine Closing

Jan 07, 2021

LONGUEUIL, Quebec, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Highland Copper Company Inc. (TSXV: HI, OTCQB: HDRSF) (the “Company”) announced today that the deadline to complete the acquisition of the White Pine North Project from Copper Range Company (“CRC”), a wholly owned subsidiary of First Quantum Minerals Ltd., was extended to March 31, 2021. The final closing of the acquisition is subject to a number of conditions, including, without limitation, a release of CRC from certain environmental obligations associated with the remediation and closure plan of the historical White Pine mine site and replacing the related environmental bond. The Company is advancing the various steps required for the closing and aims to complete the acquisition of the White Pine North Project by the end of January, contemporaneously with the exercise by Osisko Gold Royalties Ltd of its silver royalty option (see news releases of September 11, 2020 and November 2, 2020). At the same time, the Company continues to evaluate various options to settle its working capital deficiency and to meet all existing commitments.

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