[ad_1]
VANCOUVER, British Columbia, March 26, 2024 (Globe Newswire) — Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or “company”) is a licensed Copperwood project (“project”), the Michigan Strategic Fund Board has established the Strategic Site Readiness Program (“SSRP). The Copperwood project aligns strongly with Michigan’s focus on mobility and electrification and has the potential to become the nation’s primary source of copper to power the ongoing transition to clean energy. Yes. The funding transfer is pending final approval from the Michigan House and Senate Appropriations Committees.
The SSRP program is part of the Strategic Outreach and Attraction Readiness Fund (“soar”), provides economic assistance aimed at creating investment-ready places to attract and promote investment into the state. The award of this grant comes after a thorough review of the Copperwood Project by the State of Michigan and the Company’s demonstration of the importance of developing the project in the Upper Peninsula. The grants will be in the form of performance-based reimbursement for eligible activities related to infrastructure development, particularly expenditures on roads, communication infrastructure, and on-site electricity supply. Infrastructure improvements supported by grants benefit surrounding communities and businesses during operation and over the long term.
“This $50 million grant is a great recognition from the State of Michigan and greatly strengthens the economic strength of the Copperwood Project. We thank Governor Whitmer and MEDC’s hardworking team for their continued efforts and support. We appreciate the attention and attention to detail that the State of Michigan and its agencies work together to ensure that projects in Michigan and the Upper Peninsula move forward successfully and safely. We would like to thank our many stakeholders and the broader community in the Western Upper Peninsula for the tremendous support we have received. It has been humbling to do business in Michigan.” Barry O’Shea, Highland Copper CEO, said:
The Copperwood Project team has been working collaboratively with local and regional community groups, government representatives, and regulatory agencies in the Upper Peninsula for more than a decade. Transparent and regular communication is central to our values and as a result we received strong support for the project throughout this application process. In addition to the 22 formal support resolutions and approximately 10 letters of support that accompanied the grant application, more than 20 local community members and representatives attended MSF Board meetings and provided public comments in support of the project. and emphasized the importance of the project. region.
“Team Michigan is excited to support the construction of the Copperwood Mine and appreciates the collaborative efforts of everyone from the company to local and state officials to ensure the success of this project.” Thank you very much.” Said Quentin L. Messer Jr. CEO of the Michigan Economic Development Corporation and President and Chair of the Michigan Strategic Fund. “The economic impact of this project, with high-wage direct jobs and countless indirect jobs that support the community, cannot be overstated as it will lead to increased economic security and prosperity for families, small businesses and local communities. Copperwood Mine is another example of a company leveraging Michigan’s assets to ensure continued leadership in sustainability and mobility innovation. We will continue to work on winning projects, investing in locations and attracting people, while encouraging people to do more. ”
The western Upper Peninsula has experienced industry closures over the past several decades, which have taken a toll on the local economy. The return of mining to the region is seen as a significant economic improvement opportunity and could catalyze transformation into new industrial investment in the region, which will support the local economy for decades to come. In addition, the potential creation of approximately 380 long-term, family-sustaining jobs and the substantial direct, indirect, and induced economic benefits of additional spending in the region are expected to increase in the western Upper Peninsula. It could play a role in starting a new chapter of prosperity. .
About Highland Copper Company
Highland Copper Company Inc. is a Canadian company focused on the exploration and development of copper projects in the Upper Peninsula of Michigan, United States. The company owns 34% of the Copperwood deposit and White Pine North project through long-term mineral leases. The Company also owns surface rights that provide access to the mineral deposits and provide space for infrastructure as required. The Company has 736,363,619 common shares outstanding. The Company’s common stock is listed on the TSX Venture Exchange under the symbol “HI” and traded on the OTCQB Venture Market under the symbol “HDRSF.”
More information about us can be found on our websites (www.highlandcopper.com) and SEDAR+ (www.sedarplus.com).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. These statements include, but are not limited to, statements regarding: (a) Scheduled grant issuance. (b) the anticipated employment benefits of the Copperwood Project; (c) The anticipated economic benefits to the local and state economy resulting from the construction and operation of the Copperwood Project. (d) Part of the cost is eligible for a grant. Forward-looking statements are made based in part on the construction and operating budget for the Company’s Copperwood Project and are available on SEDARPlus (the “Technical Report”). Forward-looking statements reflect assumptions made in technical reports, assumptions regarding the location of employees and sources of products and services, and assumptions incorporated in IMPLAN’s models to predict direct and indirect benefits. It is subject to many assumptions, such as: These underlying assumptions may prove to be incorrect. Important factors that could materially affect our expectations include: The timing and receipt of Michigan House and Senate approvals cannot be guaranteed. uncertainty regarding the timing of development of the Copperwood Project; As the plan continues to be refined, project parameters change. the availability of services, materials and skilled labor to complete construction and operate the Copperwood Project; the effects of regulation by government agencies; Unexpected cost increases. This may include significant increases in estimated capital and operating costs and the effects of inflation. fluctuations in metal prices and exchange rates; construction and other delays, construction, operating and reclamation costs that differ materially from estimated or anticipated general market and industry conditions and risks described in the Company’s public documents filed on SEDARPlus; Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward-looking statements. All forward-looking statements in this press release are based on information available to us as of the date of this press release, and we undertake no obligation to update any forward-looking statements, except as required by law. We do not owe.
Neither 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.
For further information or media requests, please contact us below.
Barry O’Shea, CEO
Email: info@highlandcopper.com
Website: www.highlandcopper.com
[ad_2]
Source link
