Vancouver, B.C. – July 13, 2016- Highbank Resources Ltd. (TSX.V –“HBK”), (the “Company”).
Further to our news release of May 11, 2016 whereby the Company proposed a private placement of 5.0 million shares at a price of $0.05 per share with 5.0 million transferable warrants attached at a price of $0.10 per share if exercised within the first year and at a price of $0.15 per share if exercised within the second year; the Company has received acceptance for filing by the TSX Venture Exchange (the “Exchange”) to proceed with closing the second and final tranche of the financing.
The Company has therefore issued 600,000 units in the second tranche for gross proceed of $30,000. The Company will use the funds to continue maintenance of the Swamp Point North aggregate project and for working capital. The shares and warrants have a hold period until November 12, 2016. Finder’s fee of $2,000 cash is to be paid.
The total completed in the two tranches totaled 2,400,000 units.
On behalf of the Board of Directors of
HIGHBANK RESOURCES LTD.