Vancouver, B.C. – March 9, 2016 – Highbank Resources Ltd. (TSX.V –“HBK”), (the “Company”).
Further to our news release of February 17, 2016 whereby the Company proposed a private placement 1.25 million shares at a price of $0.08 per share with 1.25 million transferable warrants attached at a price of $0.15 per share if exercised within the first year and at a price of $0.20 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 final tranche of the financing.
The Company has therefore issued 1,051,250 units in the final tranche for gross proceed of $84,100. The Company will use the funds to continue development of the Swamp Point North aggregate project and for working capital. The shares and warrants have a hold period until July 10, 2016. No finder’s fees were payable. William Loucks, a director of the Company participated as to 500,000 units.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.
Gary Musil, CFO/Director
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