TSX - "HBK"
12g3-2(b): 82-1508
January 13, 2010
Highbank Resources Ltd. (“HBK”), has agreed to amend the warrant price and number of warrants attached to the May 15, 2008 Mace/Murvey Agreement.
Further to our agreement dated May 15, 2008 and subsequent amendments the Company has agreed to amend the warrant price to $0.115 per share expiring July 30, 2010, subject to an accelerated expiry date to shorten the exercise period to a period of 30 days, if for ten consecutive trading days, the closing price of the Company’s common shares exceeds $0.12. In return the property vendor agrees to reduce the number of warrants granted in the agreement from 500,000 to 300,000.
The above Amendment to the Property Agreement is subject to regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
“JAKE BOTTAY”
Jake Bottay,
CEO/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.