Mr. James Boyce reports

SECURED CONVERTIBLE PROMISSORY NOTE

Goldbank Mining Corp. is proceeding with the issuance of a secured convertible promissory note, subject to acceptance for filing by the TSX Venture Exchange.

Goldbank has now agreed to increase the amount of the promissory note to $1.2-million from $800,000. Promissory note terms include an interest rate of 6 per cent per year, and the note is convertible in whole or in part, at the holder's election, for Goldbank units at five cents per unit for the first year and thereafter at 10 cents per unit until maturity three years from the date of issuance. Each unit is composed of one share and one transferable warrant, with each warrant exchangeable for one common share at five cents per share. Interest accrues monthly over the term of the convertible promissory note. In connection with the issuance of the convertible promissory note, approximately $2.5-million in additional current debts of Goldbank will be converted to long-term debt with the principal amount payable in September, 2018.

The secured convertible promissory note will be issued to Rolo Finance Inc., a B.C. private corporation owned and controlled by R. Roland. As the conversion of the promissory note to shares may result in the creation of a control person, Goldbank obtained shareholder approval at its 2015 shareholder meeting held on July 10, 2015.

We seek Safe Harbor.