TSX - "HBK"
12g3-2(b): 82-1508
October 1, 2009
Highbank Resources Ltd. (“HBK”), has completed the previously announced private placement.
Further to the TSX Bulletin dated September 29, 2009 the Company completed the following:
6,000,000 units were issued at a price of $0.04 per unit for gross proceeds of $240,000. Each unit consists one common treasury share and one warrant for the further purchase of one common share at a price of $0.10 up to September 30, 2010 and at the exercise price of $0.20 per share at any time after September 30, 2010 but on or before September 30, 2011. $9,600 in cash was paid as finders’ fees. All shares and warrants issued carry a statutory four month plus one day hold period from trading until January 31, 2010.
The Company will utilize the proceeds of the private placement to maintain the Company’s mineral properties and general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
“GARY MUSIL”
Gary Musil,
CFO/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.