Vancouver, B.C. – September 22, 2014 –Highbank Resources Ltd. (the "Company") (TSX Venture: HBK). Further to our September 15, 2014 news release, the Company would like to update the progress of our load out facility. Transportation of the pilings to the Port of Prince Rupert was delayed by a labour action at the docks in Vancouver. We are now pleased to be able to report that the pilings are now in Prince Rupert, and loading onto Foresight Innovations, pile driving barge. Crews have welded together pilings of required length to form the initial moorings for the Swamp Point North Barge Loading Facility. The barge is expected to leave the Port of Prince Rupert today. The addition of Foresight’s crew will bring the total site construction workforce to 14. It should be noted that the load-out facility will be incorporated on future nautical charts of the area when completed.
Victor N. Bryant, CEO/President will be flying to the site Tuesday, September 23rd to monitor both land and water/foreshore construction progress (photos to the website and social media will be posted as they become available). Accompanying Mr. Bryant will be an independent environmental technician who will monitor and report our ongoing compliance with the mine permit conditions, during this critical construction period.
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Shares for Debt
The Company engaged Foresight ("Foresight") Innovations Ltd. of Victoria to drive the pilings and complete the infrastructure for the company’s barge load-out facility at Swamp Point North. Foresight has agreed to receive Shares for Debt for a portion of the construction contract. The Company has agreed to issue 1,193,000 common shares (the "Shares") at a deemed price of $0.22 per share to Foresight. The Shares for Debt is subject to regulatory approval, and once issued, a statutory hold period of four months. The Shares are being issued to satisfy $250,000 + GST of debt (the "Debt"). The Company is not indebted to any other creditors who wish to settle shares for debt.
On behalf of the Board of Directors of
HIGHBANK RESOURCES LTD.
"Victor N. Bryant"
Victor N. Bryant,
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.