TSX - "HBK"
12g3-2(b): 82-1508
June 3, 2009
Highbank Resources Ltd. (the “Company”), (“HBK”) held its Annual General Meeting today, June 3, 2009. At the meeting the shareholders re-elected Jake Bottay, Gary Musil, Victor N. Bryant and Luard J. Manning to the Board for the upcoming year. Following the meeting the directors appointed Jake Bottay as President/Chief Executive Office and Gary Musil as Corporate Secretary/Chief Financial Officer.
All other resolutions were approved and there was no new business arising from the floor.
The Company intends to reduce the exercise price of the following incentive stock options to $0.10 per common share as approved by disinterested shareholders, and subject to TSX Venture Exchange approval: (a) in regard to insiders, a total of 650,000 options will be re-priced (75,000 options granted on October 15, 2007 at an exercise price of $0.26; and 575,000 options granted on May 9, 2008 at an exercise price of $0.25 per common share); and (b) in regard to non-insiders/consultants, a total of 550,000 options will be re-priced (525,000 options granted on October 15, 2007 at an exercise price of $0.26; and 25,000 options granted on May 9, 2008 at an exercise price of $0.25 per common share).
Management would like to thank the Company’s shareholders for their continued support.
For further information, investors and shareholders are invited to visit the Company’s website at www.highbankresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
“JAKE BOTTAY”
Jake Bottay,
President/Director
Statements contained in this news release contain certain forward-looking
statements and information relating to Highbank’s future plans, timing
of development or potential expansion or improvements. Such forward-looking
statements are subject to risks and uncertainties which could cause actual results
to differ materially from estimated results. Such risks and uncertainties include,
but are not limited to, Highbank’s ability to raise sufficient capital
to fund development, changes in economic conditions or financial markets, changes
in prices for Highbank’s aggregate products, increases in environmental
and other regulatory developments, operational difficulties or inability to
obtain permits encountered in connection with our development activities, and
changing foreign exchange rates.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.