Highland Resources Announces Share Consolidation and Change of Name
LONGUEUIL, QUEBEC--(Marketwire - Oct. 31, 2012) - Highland Resources Inc. (TSX VENTURE:HI) ("Highland" or the "Company") announces that as of the opening of trading on the TSX Venture Exchange ("TSXV") on November 1, 2012, the Company will consolidate its common share capital on the basis of five pre-consolidation common shares held for one new post-consolidation common share (5:1), so that the 261,389,393 issued and outstanding common shares of the Company will consolidate into approximately 52,277,879 common shares, allowing for rounding related to fractional shares. The share consolidation was approved by the shareholders of the Company at the annual general and special meeting held on October 11, 2012.
Concurrent with the share consolidation, the Company will be changing its name to "Highland Copper Company Inc." to better reflect its business. The Company's trading symbol on the TSXV will remain unchanged 'HI'.
Letters of transmittal with respect to the consolidation and name change will be mailed out to all registered shareholders of the Company. Registered shareholders will be required to send their certificates representing pre-consolidation common shares with a properly executed letter of transmittal to the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"). Additional copies of letters of transmittal can be obtained from, and inquiries regarding letters of transmittal can be directed to Computershare's Corporate Actions department (at 1-800-564-6253 in Canada and the United States or at 1-514-982-7555 from overseas or by e-mail to firstname.lastname@example.org).
All registered shareholders who duly complete letters of transmittal and submit their pre-consolidation common share certificates to Computershare will receive a Direct Registration Advice confirming the number of post-consolidation common shares of Highland they own. No fractional post-consolidation common shares will be issued pursuant to the consolidation. Fractional post-consolidation common shares will be rounded up to the nearest whole number if 0.5 or greater and down to the nearest whole number if less than 0.5 and no cash consideration will be paid in respect of fractional common shares.
Highland shareholders who do not hold Highland shares in their own names should contact their broker or financial institution if they have questions regarding the consolidation process.
Further details of the share consolidation are contained in the Company's information circular dated September 5, 2012, which is available on SEDAR.
Highland Resources is a Canadian exploration company focused on exploring and developing copper projects on 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.
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