Highbank Resources Reprices Placement at Eight Cents a Share

Highbank Resources (TSXV:HBK) announced that further to its news release of Aug. 31, 2015, and as a result of current market conditions, Highbank Resources Ltd. has elected to reprice its private placement.
As quoted in the press release:

The Company will be issuing up to 7.0 million units at $0.08 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 Exchange acceptance.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 2018. Currently bids in excess of one million tonnes of various aggregates have been quoted.In the News:Four LNG projects will be built in B.C., but not in the order you expect: analysts

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