Highland Provides Update on Financing and Activities at its Michigan Projects

LONGUEUIL, QUEBEC--(Marketwired - Feb. 26, 2015) -

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Highland Copper Company Inc. (TSX VENTURE:HI) ("Highland" or the "Company") is pleased to provide an update on its financing as well as on-going work at its copper projects in Michigan, USA.

Private Placement

Highland announces that it has revised the terms of its up to $10 million non-brokered private placement offering (the "Offering") announced on December 16, 2014 in response to current market conditions. The Company is planning to issue units of its securities (the "Units") at a price of $0.30 per Unit with each Unit consisting of one common share of Highland and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable to acquire one common share at $0.50 for a period of 18 months from the closing date of the Offering. The Warrants will be subject to a right of accelerated expiry at the Company's option when the closing price of its common shares on the TSX Venture ("TSXV") has exceeded $0.80 for twenty consecutive trading days at any time after six months from closing of the Offering.

The Offering, expected to close on or about March 5, 2015, is subject to certain conditions including but not limited to the receipt of all required regulatory approvals and consents, including the approval of the TSX Venture Exchange ("TSXV"). The securities issuable under the Offering will be subject to a hold period expiring four months and one day after the closing date.

Loan Facility

On December 16, 2014 the Company had also announced that it had mandated RMB Resources Inc. ("RMB") to arrange a US$20 million loan facility to provide interim financing for Highland to advance the evaluation and development of its Michigan Projects. RMB has provided notice to the Company of its decision to terminate the mandate due to a decision by RMB's parent company to restrict their resource financing to within Africa. RMB has assured the Company that this decision was totally unrelated to the business of Highland, including the quality of its assets.