Mr. Edward Yew reports
HIGHLAND CRITICAL MINERALS CLOSES NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT
Highland Critical Minerals Corp. has closed its previously announced non-brokered flow-through (FT) private placement of common shares for aggregate gross proceeds of $400,000, at a price of 25 cents per FT share, for the issuance of 1.6 million FT shares.
Each FT share qualifies as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada).
The company intends to use an amount equal to the gross proceeds from the offering to incur eligible Canadian exploration expenses (within the meaning of Subsection 66.1(6) of the tax act) that are intended to qualify as flow-through critical mineral mining expenditures (or, failing that, flow-through mining expenditures) as defined in Subsection 127(9) of the tax act. The company intends to incur the qualifying expenditures on or before Dec. 31, 2027, and to renounce the qualifying expenditures to subscribers of the FT shares with an effective date of Dec. 31, 2026.
A statutory four-month-plus-one-day hold period applies to all securities issued in connection with the offering.
About Highland Critical Minerals Corp.
Highland is a mineral exploration and development company. Its activities consist of acquiring and exploring mining properties to enhance shareholder value as it proceeds with exploration work on the Church property and Sy property, along with other mining properties it may acquire and develop.
We seek Safe Harbor.
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