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Highbank Closes 2nd Tranche of Private Placement Raising $350,400
Jan. 15, 2016 07:41AM PST
Company News
Highbank Resources (TSXV:HBK) announced that further to our news release of September 17, 2015 whereby the Company proposed a private placement of 7.0 million shares at a price of $0.08 per share with 7.0 million warrants attached at a price of $0.15 per share if exercised within the first year and at a price of $0.20 per share if exercised within the second year; the Company has received acceptance for filing by the TSX Venture Exchange to proceed with closing the second tranche.
Highbank Resources (TSXV:HBK) announced that further to our news release of September 17, 2015 whereby the Company proposed a private placement of 7.0 million shares at a price of $0.08 per share with 7.0 million warrants attached at a price of $0.15 per share if exercised within the first year and at a price of $0.20 per share if exercised within the second year; the Company has received acceptance for filing by the TSX Venture Exchange to proceed with closing the second tranche.
The Company has therefore issued 4,380,000 units in the second tranche for gross proceed of $350,400. The Company will use the funds to continue development of the Swamp Point North aggregate project and for working capital.
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