2016-01-12 15:53 ET – SMF Withdrawn, HBK
Mr. Gary Musil reports
HIGHBANK TO COMPLETE 2ND TRANCHE OF PRIVATE PLACEMENT RAISING $350,400
Further to Highbank Resources Ltd.’s news release of Sept. 17, 2015, whereby the company proposed a private placement of seven million shares at a price of eight per share, with seven million warrants attached at a price of 15 cents per share if exercised within the first year and at a price of 20 cents per share if exercised within the second year, Highbank Resources received conditional acceptance by the TSX Venture Exchange to proceed and closed the first tranche of 2,006,250 units on Oct. 2, 2015.
The company has now received subscriptions for a further 4.38 million units in the second tranche for gross proceeds of $350,400. The shares and warrants will have a hold period of four months and one day from closing. Insiders Gary Musil (55,000 units) and Victor N. Bryant (100,000 units) subscribed in this second tranche. Finders’ fees of $9,920 cash will be paid.
The second tranche is subject to TSX-V acceptance for filing.
We seek Safe Harbor.
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