2016-07-13 19:58 ET - News Release
Mr. Gary Musil reports
HIGHBANK CLOSES 2ND TRANCHE OF PRIVATE PLACEMENT FOR$30,000
Further to the news release of May 11, 2016, whereby Highbank Resources Ltd. proposed a private placement of 5.0 million shares at a price of five cents per share with 5.0 million transferable warrants attached at a price of 10 cents per share if exercised within the first year and at a price of 15 cents per share if exercised within the second year, the company has received acceptance for filing by the TSX Venture Exchange to proceed with closing the second and final tranche of the financing.
The company has therefore issued 600,000 units in the second tranche for gross proceeds of $30,000. The company will use the funds to continue maintenance of the Swamp Point North aggregate project and for working capital. The shares and warrants have a hold period until Nov. 12, 2016. A finder's fee of $2,000 cash is to be paid.
The total completed in the two tranches totalled 2.4 million units.
We seek Safe Harbor.