HBK (TSXV) NEWS 08.8.14 closes $1.3 million 2nd tranche - Site development progress update

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HBK (TSXV) NEWS 08.8.14 closes $1.3 million 2nd tranche - Site development progress update

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HBK (TSXV) NEWS 08.8.14 closes $1.3 million 2nd tranche - Site development progress update

  1. 1. #600 – 625 Howe Street Vancouver, B.C. V6C 2T6 Ph: (604) 683-6648 Fax: (604) 683-1350 E-Mail: highbank@telus.net www.highbankresources.com NEWS RELEASE TSX.V:HBK Frankfurt: V7O HIGHBANK CLOSES 2ND TRANCHE -$1.3 MILLION CONVERTIBLE DEBENTURE AND SWAMP POINT NORTH PROGRESS UPDATE Vancouver, B.C. – August 8, 2014 – Highbank Resources Ltd. (TSX.V: HBK), (the “Company”) is pleased to announce the closing of the 2nd tranche of its $1.3 million convertible debenture, as its Swamp Point North aggregate project moves closer to production. Swamp Point North –project update Mr. Victor N. Bryant, President/CEO reports: V.P. Operations Mr. Stan Spletzer, is presently onsite assisting in planning for preparation of stripping and mining activities; and for installation of the crushing and washing plant equipment. Final discussions are taking place with the pile driving company-part of the barge load-out facility, which we expect to be on site in the latter part of this month. Convertible Debenture Highbank closes the 2nd tranche -$1.3 million of our total $4 million convertible debenture financing. The convertible debentures bears interest at the rate of 10% per annum and has a term of three years for repayment by the Company from revenues earned through the sale of aggregate from the Swamp Point North aggregate project. The debentures are convertible into shares of the Company at a price of $0.45 during the first year, $0.35 during the second year, and at a price of $0.25 in the third year. The Company is paying cash finder’s fees equal to 7-1/2% on a portion of the gross proceeds raised from the convertible debentures or $82,500 and 22,727 shares at a deemed price of $0.33 per share. NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES On Behalf of the Board of Directors of HIGHBANK RESOURCES LTD. “Victor N. Bryant” Victor N. Bryant, CEO/President Neither the TSX Venture Exchange nor its Regulation Services Provider (s that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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