Highland Copper Closes Sale of 34% Interest in White Pine for US$30 Million

Core Viewpoint - Highland Copper Company has successfully completed the sale of its 34% interest in the White Pine North Project to Kinterra Copper USA LLC for a total consideration of US$30.1 million, which will be utilized to fund the Copperwood Project and eliminate existing debt [1][2][3]. Financial Transaction Details - The total consideration for the sale includes US$18.3 million in cash, after accounting for US$11.8 million in outstanding principal and accrued interest on a loan from Kinterra to Highland's subsidiary [2]. - Proceeds from the sale will be allocated to fund activities related to the Copperwood Project, pay off existing debt to Kinterra, cover transaction costs, and support general working capital [2]. Strategic Focus - The divestment of the non-controlling stake in White Pine reflects the company's commitment to its fully owned Copperwood Project, aiming to eliminate debt and prepare for construction decisions [3]. - The company plans to use the proceeds to advance detailed engineering, construction readiness, and project financing throughout 2026 [3]. Advisory and Legal Support - Moelis & Company LLC served as the exclusive financial advisor for the transaction, while McMillan LLP acted as the legal advisor [4]. Company Overview - Highland Copper Company is focused on exploring and developing copper projects in Michigan's Upper Peninsula and holds surface rights for the Copperwood deposit [6]. - The company has 738,188,122 common shares outstanding, listed on the TSX Venture Exchange under the symbol "HI" and on the OTCQB under "HDRSF" [6].