A story in the Nov. 3 edition of the Prospect News PIPE Daily incorrectly described the size of a private placement of shares and units issued by Highland Resources Inc. The correct size of the placement is C$1.41 million. A corrected version of the story follows:
By Devika Patel
Knoxville, Tenn., Nov. 2 - Highland Resources Inc. raised C$1.41 million in a non-brokered private placement of shares and units, which priced Sept. 18 for C$1.50 million.
The company sold 3,696,666 units of one common share and one half-share warrant at C$0.15 per unit for C$554,500. Highland also sold 5,691,498 flow-through shares at C$0.15 each for C$853,725.
Each whole two-year warrant is exercisable at C$0.20 in the first year and at C$0.30 thereafter.
Proceeds will be added to working capital and be used for exploration.
Highland is a Vancouver, B.C.-based capital pool company.
| Issuer: | Highland Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through shares
|
| Amount: | C$1,408,225
|
| Price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 18
|
| Settlement date: | Nov. 2
|
| Stock symbol: | TSX Venture: HI.P
|
| Stock price: | C$0.155 at close Sept. 17
|
| Market capitalization: | C$1.77 million
|
|
|
| Units
|
| Amount: | C$554,500
|
| Units: | 3,696,666
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20 in the first year, C$0.30 thereafter
|
|
|
| Flow-through shares
|
| Amount: | C$853,725
|
| Shares: | 5,691,498
|
| Warrants: | No
|
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