Highbank Resources Closes Private Placement

 Highbank Resources Ltd. (TSXV:HBK) closed its oversubscribed private placement for total gross proceeds of $164,000 at a price of $0.08 per unit. The final tranche was oversubscribed by 1,243,750 units to 2,050,000 units of the Company.

As quoted in the press release:

The final tranche was oversubscribed by 1,243,750 units to 2,050,000 units of the Company (the “Units”) at a price of $0.08 per Unit for total gross proceeds of $164,000. Each Unit consists of one common share of the Company and one transferable share purchase warrant (a “Warrant”). Each Warrant is exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $0.10 in the first year and $0.12 in the second year.

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