Vancouver, B.C. – March 2, 2017 – Highbank Resources Ltd. (TSX.V: HBK)
Highbank Resources Ltd. ("HBK") is pleased to announce that it has made an arrangement with a Canadian aggregate marketing company ("AMC") that has agreed to provide marketing and customer service for the Swamp Point North Project.
Details of the arrangement include the exclusive rights to engage potential customers and negotiate on HBK’s behalf to provide information regarding prices, delivery schedules, and specifications of aggregate and rock products. AMC and HBK have signed a letter giving authority to AMC to provide the above services immediately, while allowing 120 days to formulate a long term agreement and/or joint venture for the same.
AMC is made up of experienced aggregate and construction persons who have critical connections both to the national and international construction and shipping industries.
James H. Place, P.Geo, CEO/President of Highbank states, "This move by Highbank has put the company in a very advantageous position where we have seasoned experts in sales and marketing carrying out work on our behalf with mutual benefit to each party. This agreement has the potential to basically create an autonomous marketing and customer service division of Highbank without the need to increase in-house staff or financial risk."
In the News:
Pacific NorthWest LNG (Petronas) reaches impact benefits agreements with two first nations – February 15, 2017 – Globe & Mail by Brent Jang - http://ow.ly/h1hN309xiH9
The energy consortium, led by Malaysia’s state-owned Petronas, said that its pacts are with the Lax Kw’alaams Band and Metlakatla First Nations. The proposed $11.4 billion liquefaction terminal near Prince Rupert would be part of $36 million in spending, which would include two pipelines built by TransCanada Corp.
LNG project on Lelu Island may scrap bridge for Ridley Island site – January 9, 2017 – The Northern View by Shannon Lough - http://ow.ly/VS8j309xiUV
Petronas will not confirm nor deny reports that they are entertaining moving the berthing area for its proposed project on Lelu Island.
The change, if made, could save Petronas as much as $1 billion off the projected $11.4 billion price tag and alleviate many of the controversial environmental concerns.
Petronas is conducting a total project review over the coming months. It is possible that Petronas could lease land on Ridley Island that wasn’t available when the project was first proposed and designed.
AltaGas greenlights Rupert project –January 3, 2017 – The Northern View by Shannon Lough - http://ow.ly/3Q27309xj7t
Calgary-based AltaGas has announced it will begin construction of a $500 million propane export terminal on Ridley Island this year.
After receiving approval from federal regulators, AltaGas made its final investment decision public. The Company said it will begin early this year to build the terminal designed to ship 1.2 million tonnes of propane to Asian markets each year.
The Ridley Island terminal near Prince Rupert, gives the proponent a geographical advantage –shipments to Asia will take 10 days as opposed to the 25 days it takes to ship from the U.S. Gulf Coast.
A final multi-year agreement has also been signed between AltaGas and the Japan-based Astomos Energy Corporation to purchase 50 per cent of the 1.2 million tonnes of propane to be exported from Ridley. "Astomos is one of the largest LPG (liquefied petroleum gas) players in the world providing great access to Asian markets for Western Canadian producers," said David Harris, President and CEO of AltaGas.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD
"James H. Place"
James H. Place CEO/President
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Forward-looking statements are projections of events, revenues, income, future economic performance or management’s plan and objective for future operations and include, without limitation, statements with respect to the anticipated production from the Swamp Point North Aggregate Project, the realization of mineral estimates, success of mining operations, the timing and amount of estimated future production, title disputes or claims, environmental risks, limitations on insurance coverage, current and anticipated purchase negotiations and arrangements, requirements for additional capital; and government regulation of mining operations. In some cases, you can identify forward -looking statements by the use of terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors, including: fluctuations in worldwide prices and demand for aggregates; changes in project parameters as plans continue to be refined; possible variations in grade and or recovery rates; accidents, labour disputes as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, are filed and available for review on SEDAR at www.sedar.com.
Neither the 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.