Completes loan and grants stock options

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Chauncey Gardiner

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Completes loan and grants stock options

posted on Jun 09, 2017 02:12PM

2017-06-08 19:15 ET - News Release

Mr. Gary Musil reports

HIGHBANK COMPLETES LOAN/BONUS SHARES AGREEMENT & GRANTS INCENTIVE STOCK OPTIONS

Further to the company's news release of May 23, 2017, and the TSX Venture Exchange bulletin dated June 2, 2017, Highbank Resources Ltd. has completed the loan/bonus shares transaction.

The $100,000 loan agreement has been accepted for filing and the company has issued 400,000 bonus common shares at a deemed price of five cents per share. The shares are restricted from trading until Oct. 3, 2017.

Stock option granting

The company has granted to officers, directors and consultants a total of 3.5 million incentive stock options for the purchase of up to 3.5 million common shares of the company, pursuant to the terms of the company's stock option plan. Each option is exercisable for a period of three years from the date of grant at a price of five cents per common share and is subject to a four-month-and-one-day hold period.