Vancouver, B.C. – July 05, 2022 - Highbank Resources Ltd. (the “Company”) (TSX.V –“HBK”) announces that it has arranged a private placement financing (the “Financing”) of $300,000 through the issuance of 6,000,000 Units (the “Units”) at $0.05. Each Unit will consist of one common share of the Company and one-half transferable warrant exercisable at $0.075 in the first year and $0.10 in the second year.
The Company intends to use the proceeds of the Financing for working capital. The Company intends to pay finder fees of up to 8% cash and 8% warrants, subject to compliance with applicable securities legislation and TSX.V policies.
The securities to be issued will be subject to a four-month and one day hold period from closing. The terms of the Financing are subject to customary closing conditions including, but not limited to, receipt of applicable regulatory approvals, including final approval of the TSX.V.
About Highbank Resources Ltd.
Highbank Resources Ltd. is engaged in the business of acquiring and developing mineral projects located in North America.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, CFO/Director
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, 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.
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