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Highland Copper Announces Corporate Update
LONGUEUIL, QUEBEC--(Marketwired - Oct. 30, 2017) - Highland Copper Company Inc. (TSX VENTURE:HI) (the "Company") is pleased to announce the appointment of a new director to its Board of Directors, the grant of stock options, the filing of its 2017 annual financial statements and the date of its AGM.
Appointment of Mr. Jean Desrosiers as director
On October 30, 2017, the Board of Directors appointed Mr. Jean Desrosiers as a director of the Company. Mr. Desrosiers is a retired mining engineer with over 40 years of experience in the mining industry. During his career, Mr. Desrosiers has held senior management positions with Noranda, Falconbridge, Xstrata and Glencore Xstrata. The appointment of Mr. Jean Desrosiers is subject to the TSX Venture Exchange approval.
Grant of stock options
On October 26, 2017, the Company's board of directors approved the grant of 2,070,000 incentive stock options to a director, an officer and employees of the Company at an exercise price of $0.17 per share. All stock options will be vesting over a period of two years and, if not exercised, will expire five years from the date of the grant. The stock options have been granted pursuant to the Company's Stock Option Plan and are subject to applicable securities laws and TSX Venture Exchange policies.
Filing of the Company's annual consolidated financial statements and MD&A
On October 27, 2017, the Company filed on SEDAR and on its website its audited annual consolidated financial statements and MD&A for the year ended June 30, 2017. The consolidated financial statements reflect the Company's decision to change its accounting policy related to exploration and evaluation expenses, which previously consisted in capitalizing all such expenditures. Under the new policy, the cost of acquiring prospective properties and exploration rights continues to be capitalized and exploration ad evaluation costs, subsequent to acquisition, are expensed until it has been established that a mineral property is commercially viable.
Date of annual meeting and record date
The Company will hold its annual general meeting of shareholders on December 11, 2017. The record date for shareholders entitled to vote at the meeting is October 31, 2017.
ABOUT HIGHLAND
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company has 459,148,153 common shares issued and outstanding. More information about the Company is available on the Company's website at www.highlandcopper.com and on SEDAR at www.sedar.com.
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.
