Highbank Completes 2nd Tranche of Total $220,000 Financing
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/01/11 -- Highbank Resources Ltd. (TSX VENTURE: HBK)(FRANKFURT: V7O) (the "Company"), has completed the second and final tranche of a total $220,000 private placement.
The first tranche issue comprised 1,450,000 units at $0.05 per unit. Each unit was comprised of one common share and one two year warrant expiring November 3, 2013. Each warrant can be exercised for one common share at a price of $0.10 in the first year up to November 3, 2012 and in the second year at $0.20 until November 3, 2013. The 1,450,000 shares and warrants have a hold period from trading until March 4, 2012. Finder's fees of $5,400 were paid.
The second tranche issued on November 29, 2011 comprised of 2,950,000 units under the same terms as the first tranche. The warrant exercise dates are $0.10 in the first year up to November 29, 2012 and in the second year at $0.20 until November 29, 2013. The 2,950,000 shares and warrants have a hold period until March 30, 2012. Finder's fees of $6,400 cash and broker's warrants of 80,000 warrants under the same terms as the private placement were paid.
Funds will be used to maintain the Company's mineral properties, and for working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, CFO/Director
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.
Contacts:
Highbank Resources Ltd.
Gary Musil
CFO/Director
(604) 683-6648
(604) 683-1350 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 01.12.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 93066
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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