Vancouver, B.C. – April 4, 2016 – Highbank Resources Ltd. (TSX.V –“HBK”), (the “Company”).
Shares for Debt
Further to the Company’s news release dated March 10, 2016 and the TSX Venture Exchange bulletin dated March 29, 2016 the Company has issued 6,573,756 common shares at a deemed price of $0.086 per share; to settle $565,343 in Convertible Debenture Interest accruals up to December 31, 2015; with six (6) of the Debenture holders. Two (2) of the debenture holders have requested payment of accrued interest in cash, and one (1) has deferred the cash payment until further financing is available.
The shares will be subject to a statutory hold period from trading until July 30, 2016.
The Company would like to thank the Convertible Debenture holders for their original $4 million in financing invested in April through August 2014, and their patience in not demanding payment of the accrued interest during the quarterly periods from 2014 to date; as the Company was continuing to raise financing for development our Swamp Point North aggregate project.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.
Gary Musil, CFO/Director
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