Online, August 31, 2015 (Newswire.com) - VANCOUVER, BC - Highbank Resources Ltd. (TSX VENTURE: HBK) (FRANKFURT: V7O), (the "Company"). The Company is arranging a non-brokered private placement to raise up to $500,000.
The Company will be issuing up to 5.0 million units at $0.10 per unit. Each unit will consist of one common share and one two year transferable share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of two years at a price of $0.15 per share in the first year and $0.20 per share in the second year.
The Company will pay a finder's fee of up to 8% in cash or warrants. The financing will be subject to TSX Venture
The Company will use the funds to continue development of the Swamp Point North aggregate project and for working capital. Highbank is continuing its efforts to secure short and long-term contracts for its aggregate products. The Company has tendered bids relating to LNG pipeline projects, preliminary infrastructure construction for Petronas LNG, Fairview container terminal expansion, Rio Tinto Alcan-Kitimat terminal extensions and numerous other projects that would require aggregates from December 2015 to mid- 2017. Currently bids in excess of one million tonnes of various aggregates have been quoted.
ON BEHALF OF THE BOARD OF DIRECTORS OF HIGHBANK RESOURCES LTD.
"Victor N. Bryant"
Victor N. Bryant,
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 from the Swamp Point North Aggregate Project, 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.