Acquisition Sends Micro Cap Higher In Late Trade

A Vancouver-based micro cap just announced that it has completed the acquisition of the White Pine North Project in Michigan. According to the release, all the conditions have been met and the documents necessary to complete the acquisition from Copper Range Company have been executed. Shares of the acquiring party, Highland Copper Company Inc. (OTCQB:HDRSF) rallied on the news.

Highland Copper is a mineral exploration company principally engaged in the acquisition, exploration, and development of mineral properties. It is a copper development company, focused on sediment-hosted copper projects in the Copper Range District of the Upper Peninsula of Michigan. The projects of the company are the Copperwood project, White Pine North Project, UPX Property, and Keweenaw project.

Traders were momentarily bullish on the news as shares briefly shot up to a session high of $0.0892/share (+10.67%). This move could be the first step toward regaining the bull rally the stock has been riding form the last year, coming from a 52-week low of just $0.0208/share.