Mr. Victor Bryant reports
HIGHBANK CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Further to the news release of Sept. 17, 2015, whereby Highbank Resources Ltd. proposed a private placement of 7.0 million shares at a price of eight cents per share with 7.0 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, the company has received conditional acceptance by the TSX Venture Exchange to proceed.
The company has therefore issued 2,006,250 units in the first tranche. The shares and warrants have a hold period until Feb. 2, 2016. No insiders, pro groups or over 5-per-cent shareholders participated.
The company is continuing to receive subscriptions for this non-brokered private placement.
We seek Safe Harbor.
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