Highbank Resources Enters Into Non-Disclosure Agreement & Year-End Summary

Highbank Resources (TSXV:HBK) announced they have entered into Non-Disclosure Agreement with a Major North American Aggregate and Concrete Company.
As quoted in the press release:

In confidential meetings between Highbank executives and an unnamed company it was determined that enough interest existed regarding a significant transaction between the companies to necessitate the signing of a non-disclosure and confidentiality agreement. This is potentially an important development with regard to moving the Swamp Point North (“SPN”) property forward as a significant supplier to the west coast of North America.

2015 Year-End Summary:

Highbank considers 2015 another important year of milestones, during a year of difficult economic and market conditions:

• April 14, 2015: Highbank’s processing plant is commissioned and produces trial runs of crushed, washed, and screened products.
• April 24, 2015: Highbank announces an independent Preliminary Economic Assessment (“PEA”) on SPN.
• May 4, 2015: Highbank deploys its barge load-out conveyor system, and delivers its first commercial shipment of 4000 tons of aggregate to a customer in the Port of Prince Rupert.
• November 1, 2015: Victor Bryant retires and takes on the role of Chairman of the Board of Directors; Director James Place, P.Geo. took over the role of CEO/President.
• Financings: 4.1 million warrants were exercised to net the treasury $498,600; and in May 2015 the Company arranged a non-interest bearing production loan totaling $900,000 to be repaid from production sales.

Highbank Resources CEO and President, Jim Place, stated:

Despite many difficulties the SPN project has encountered during construction and commissioning; and moving from a development to a production facility, the Company has continued to make ready the SPN Quarry for increased production. Despite extreme weather events in rain and snow that have hammered the North West Coast, Highbank has continued to expand and expose further aggregates. Management would like to thank its SPN site crew, directors and shareholders for their continued support throughout the year.

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