New Issue: Highland prices C$2 million private placement of stock

By Devika Patel

Knoxville, Tenn., May 7 - Highland Resources Inc. said it will conduct a C$2 million non-brokered private placement of shares.

The company will sell 770,000 shares at C$0.65 each for C$500,500. Highland also will sell 2 million flow-through shares at C$0.75 each for C$1.5 million.

Proceeds will be used for the development of the Zeus property and for general corporate working capital purposes.

Highland is a Vancouver, B.C.-based capital pool company.

Issuer:	Highland Resources Inc.
Issue:	Shares, flow-through shares
Amount:	C$2,000,500
Warrants:	No
Agent:	Non-brokered
Pricing date:	May 7
Stock symbol:	TSX Venture: HI.P
Stock price:	C$0.83 at close May 6
Shares
Amount:	C$500,500
Shares:	770,000
Price:	C$0.65
Flow-through shares
Amount:	C$1.5 million
Shares:	2 million
Price:	C$0.75

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