08:30 AM EST, 11/25/2025 (MT Newswires) -- Highland Copper ( HDRSF ) said Tuesday that it signed a binding offer to sell its 34% stake in the White Pine North project in Michigan to project partner Kinterra Copper USA for US$30 million.

Consideration comprises $18.3 million in cash, net of the outstanding principal and accrued interest on the loan made by Kinterra to Highland subsidiary Upper Peninsula Copper, which is expected to total $11.7 million.

The companies also agreed to suspend cash calls under the White Pine joint operating agreement.

Highland said it will not be obligated to make cash calls through closing, and any such cash calls will be recorded and allocated between Kinterra and the company only if the transaction does not close.

Highland said it will use the proceeds to advance the Copperwood project in Michigan, eliminate existing debt, and streamline its overall corporate structure.

"This move sharpens our focus, de-risks our near-term timeline, and significantly enhances our ability to become the next domestic U.S. copper producer," Highland Chief Executive Officer Barry O'Shea said.

Highland's share price fell 3.8% on Monday to $0.125 on the TSX Venture Exchange.