Highland Copper Announces Appointment of Chief Financial Officer
February 14, 2022 – Longueuil, Quebec. Highland Copper Company Inc. (TSXV: HI, OTCQB: HDRSF) (the “Company”) reports changes to its executive team. Effective immediately, Barry O’Shea will be assuming the position of Chief Financial Officer (“CFO”) of the Company and Alain Krushnisky will be stepping down as CFO to devote more time in his role as CFO of other reporting issuers.
Barry O'Shea has over 20 years of finance experience across diverse industries and countries. Mr. O’Shea was CFO of Fiore Gold Ltd. from May 2018 until its recent acquisition by Calibre Mining Corp. Prior to that, he spent eight years with New Gold Inc., initially as Vice President of Finance where he oversaw financial reporting, financial planning, internal audit, and tax and then as Vice President, Business Development, responsible for corporate development, investor relations, and strategic capital allocation. Mr. O'Shea is a Chartered Professional Accountant and has an Honours Business Administration degree from the Ivey Business School.
“Alain has been an important part of the Company since 2012. We very much appreciate all his contributions during the past nine years and the support he will provide during a transition period to integrate Barry into his position”, said Denis Miville-Deschenes, President & CEO. “We are excited to have Barry join the Company on a full-time basis. We expect his background and experience to have a positive impact on Highland Copper as we work toward developing and financing the construction of our Copperwood project in Michigan as well as advancing the neighbouring White Pine North project. On behalf of the Board of Directors, I would like to welcome Barry aboard.”
Following completion of a $26 million equity raise in early September, the Company has been busy, working with G Mining Services, updating the Copperwood Feasibility Study completed in June 2018. This is the perfect time to evaluate project opportunities while also reviewing capital and operating costs, supply chain issues and the project execution plan. It is the intent to have the updated study finalized including the development schedule for the second quarter of 2022.
The fundamentals for the long-term copper price remain very good as is the current price of copper and Highland Copper remains dedicated to, after financing, bring into construction and production the Copperwood project, the first of its two projects in Michigan, USA.
This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, including, without limitation, statements relating to the timing of completion of the updated Copperwood Feasibility Study, the Company’s ability to bring the Copperwood project into construction and production; prices for copper; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving the Company’s ability to obtain the additional financing required to develop properties and availability of financing in the debt and capital markets; uncertainties involving the estimation of reserves and resources; the need to obtain permits and governmental approvals; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, metal grades or recovery rates; the ability of the Company to hire and retain key management employees and skilled and experienced personnel; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. Information about the Company is available on SEDAR at www.sedar.com and on the Company’s website at www.highlandcopper.com.
Neither the 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, please contact:
Denis Miville-Deschênes, President & CEO