Vancouver, B.C. – March 22, 2017 – Highbank Resources Ltd. (TSX.V: HBK)
Renewal of Tenures over Swamp Point North:
Highbank Resources Ltd. has received approvals from the Ministry of Forests, Lands and Natural Resource Operations ("FLNRO"), British Columbia to renew the current Licences of Occupation for the Swamp Point North aggregate properties and foreshore (load-out area). Renewals will be for an additional fifteen (15) years from March 5, 2017.
Shares for Debt:
Further to the Company news releases of March 1, 2017 and the TSX Venture Exchange bulletin dated March 20, 2017 the Company has issued 7,400,000 common shares at a deemed price of $0.05 per share; to settle $370,000 in Convertible Debenture Interest accruals up to December 31, 2016; with seven (7) of the debenture holders. Two (2) of the debenture holders have requested payment of accrued interest in cash and deferred the cash payment until further financing is available.
The shares will be subject to a statutory hold period and restricted from trading until July 22, 2017.
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.