Highbank to issue 1.19 million shares to Foresight

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Highbank to issue 1.19 million shares to Foresight

posted on Oct 07, 2014 08:01PM

2014-10-07 12:08 ET - News Release

Mr. Gary Musil reports

HIGHBANK ISSUES FURTHER SHARES FOR DEBT

As reported in Highbank Resources Ltd.'s Oct. 6, 2014, news release, Foresight Innovations Ltd. of Victoria, B.C., has completed the installation of the pilings for the barge load-out facility at Swamp Point North. The company has agreed to issue a second tranche of 1,193,000 common shares at a deemed price of 22 cents per share to Foresight. The shares for debt are subject to regulatory approval and, once issued, a statutory hold period of four months. The shares are being issued to satisfy the fourth payment of $250,000 plus gross sales tax of debt. The company is not indebted to any other creditors who wish to settle shares for debt.