Agoracom: Small Cap Investment - Highbank Resources Ltd. - Highbank to borrow $50,000 from non-related party

Welcome To The Highbank Resources Ltd. HUB On AGORACOM

Highbank Resources – Advanced Aggregate Gravel Exploration in Canada "Digging into our Past to bring Prosperity to YOUR Future"

Reply New Message

Back To Forum List View

RockLicker

Rank: President [?]

Points: 101894 [?]

Votes: 328 Score: 3.9 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Highbank to borrow $50,000 from non-related party

posted on Dec 11, 2016 09:59PM

2016-12-09 18:41 ET - News Release

Mr. Gary Musil reports

HIGHBANK ARRANGES DEMAND LOAN FOR $50,000

Highbank Resources Ltd. has arranged a demand loan for $50,000 from a non-related party.

The proceeds of the loan are to be used for care and maintenance of its Swamp Point North aggregate project and working capital.

The loan bears interest at 1.5 per cent per month. In consideration for the loan, the company has also agreed to issue 200,000 bonus common shares, at a deemed price of five cents per share. The loan and issuance of bonus shares are subject to regulatory approval and, pursuant to the agreement, will be subject to a four-month-and-one-day hold period from the date of issuance.