Orion invests in Highland Copper's $15 mln private placement
Canadian mining company Highland Copper Co Inc (TSX-V: HI) has closed a third tranche of its private placement, raising gross proceeds of about $15.4 million. Orion Mine Finance, a U.S. mining private equity firm, invested in the deal, giving it a roughly 18.6 percent interest. Orion is entitled to certain rights as a result of its investment, including an ability to purchase 15 percent of concentrates produced from the company's Copperwood project. Based in Longueuil, Québec, Highland said it will use the proceeds of the private placement, targeted to raise about US$17 million, to continue exploring and developing projects in Michigan's copper district.
20 March 2017•3 mins read
