Vancouver, B.C. – July 27, 2015 - Highbank Resources Ltd. (TSX.V –"HBK"), (the "Company").
In the News:
‘The Malaysian Insider’ –Business report states: The US$36 billion (RM137.5 billion) liquefied natural gas ("LNG") export terminal project in Canada is expected to commence this September, said British Columbia (BC) Finance Minister, Michael de Jong.
Victor N. Bryant, CEO/President comments: "It is a great pleasure to share this news with you from Malaysia, where B.C. Finance Minister-Michael de Jong has just met with the Malaysian Prime Minister- Datuk Seri Najib Tun Razak."
In a press conference in Putrajaya, Malaysia today, Michael de Jong states: "The construction will begin soon….this fall. All other prerequisites have been dealt with." Excerpts from the Malaysian Insider/Business http://ow.ly/Q9hoG The Finance Minister thanked the Malaysian Prime Minister for his leadership and vision in positioning Malaysia to play a lead role in the international development of the emerging LNG industry in British Columbia, Canada.
"Our central government environmental certificate is the remaining piece of this and we are working through that exercise. We are optimistic that in the very near future it will be concluded," de Jong said.
Victor N. Bryant further comments: "This is wonderful news as stated in previous news releases. Highbank has quoted on supplying a significant amount (700,000+ tons) of our construction aggregates to support this build."
July 24, 2015 -Annual General Meeting Results:
Mr. Gary Musil, Corporate Secretary/Director reports:
At the meeting the shareholders re-elected Victor N. Bryant, Gary Musil, Luard J. Manning, James H. Place, and newly elected William J. Loucks for the upcoming year. The scrutineer reported that there were a total of 26 Shareholders holding 28,977,836 common shares represented in person or by proxy at this meeting. This represents 28.09% of the total 103,165,699 issued and outstanding Common Shares at record date; and increase of over 6.4% voting compared to 2014.
As a result of an overwhelming quorum tabulated before the meeting, no ballot/poll was required to vote for individual directors at the AGM. The proxy votes tabulated before the meeting for each director are as indicated in the following table:
|Directors||Votes for||Percent||Votes Withheld||Percent|
|Victor N. Bryant||20,507,800||99.94%||12,359||0.06%|
|Luard J. Manning||19,308,800||94.10%||1,211,359||5.90%|
|James H. Place||19,506,850||95.06%||1,013,309||4.94%|
|William J. Loucks||19,463,800||94.85%||1,056,359||5.15%|
The majority of the additional 7,000,000+ shares tendered at the meeting appointing a nominee in attendance to vote, were in favor of managements recommendations in the Information Circular and for the five Directors.
Shareholders approved, subject to acceptance by the TSX Venture Exchange, the Company’s Incentive Stock Option Plan. Shareholders also approved the re-appointment of Crowe MacKay LLP, Chartered Accountants as auditors for the ensuing year, and authorized the Directors to fix their remuneration.
Other resolutions submitted by management to shareholders for consideration were approved as presented; including the ratifying of the Company’s Advance Notice Policy ("ANP") as attached to the Information Circular as Schedule "D". In order for the ANP to remain in effect, the ANP must be ratified, confirmed and approved at each subsequent annual general meeting.
At the Directors Meeting following; the directors re-appointed Victor N. Bryant as President/Chief Executive Officer, and Gary Musil as Corporate Secretary/Chief Financial Officer. The Audit Committee appointees are: Gary Musil, Luard (Lu) J. Manning, & William (Bill) J. Loucks.
The Board of Directors would like to thank the Company’s shareholders for their patience and continued support throughout the past year; as well as your increased support in attending and voting at the Annual General Meeting.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.